Percy Ingle bakery chain to close all stores next year
Possible final trading date is on 31 March 2021.
After 66 years of trading, Percy Ingle Bakeries confirmed it will close all of its stores, mainly based in the East End of London and Essex.
The bakery chain, founded in 1954, intends to close the business in a on a “shop by shop basis” over the next year, with a final trading date of 31 March 2021.
“The high street is going through significant change and the costs of running the business has increased dramatically in recent years with regards to rents, rates, wages and utilities to name but a few of the substantial costs involved in the day to day running of a retail business,” it said in a statement.
The chain described itself as being at “crossroads”, needing “substantial” in their shops, main bakery and head office.
“With a market that is highly competitive, a product that is exceptionally labour-intensive to make and a consumer that is highly price-conscious, it is difficult to see that we would be getting any return on such an investment on top of the many millions of pounds that has already been invested in recent years,” it said.
Ingles said it is committed to helping all our employees through the pending redundancy process, expressing their thanks for “their commitment and dedication they have shown in the time they have been with the business.”
“The company is very proud of its past and history of traditional baking. As a family business baking traditional products and serving London’s east end communities for over 65 years, we would hope that the company is remembered in high regard for years to come,” the statement added.
