Insolvency practitioner SFP announced this morning that it had successfully sold the company, which entered administration in late June. West Midlands based Baker Boys describes itself on its website as an independent bakery with an expanding nationwide distribution service.
The Cake Bake Company, based in Swancombe, Kent, had a turnover of about £900,000 and employed around eight people. It was famous for making the Skoda cake car as seen in a 2007 TV advertising campaign.
SFP group partner, Daniel Plant, said: “As there was a five week gap between the cessation of trading and SFP’s instruction, we needed to work very quickly. In this case, SFP was able to broker a successful outcome for the business moving forward."
A spokesman for SFP told FoodManufacture.co.uk that it "is hoped that all staff will be re-employed". Asked whether there was a chance of the new owner resurrecting sales contracts with customers, he added that "good will, etc." (which covers intangible factors such as reputation, brand name and customer relations) had also been acquired as part of the deal.
Marzipan car engine
Skoda’s 60-second commercial for its 2007 Fabia model – which features bankers, home economists and model makers creating an edible version of the car – reportedly cost the automotive manufacturer around £500,000 and took 10 days to make.
Shot at Shepperton Studios in Surrey, the car sported a marzipan engine and a chassis built from sponge. Rice Krispies were used to make moulded bodywork parts, while glacier mints were used for headlight covers and brake lights were made using red jelly.
A nationwide manufacturer and supplier of baked goods, The Cake Bake Company also supplied supermarkets and independents across the UK.
However, insolvency practitioner SFP was appointed as administrator on June 21. It said that cash flow difficulties and a “recent technical issue” (that remains undefined) led to the temporary stoppage of production.
Plant said at the time: “The margins are tighter than ever in the food industry, so a businesses survival can be severely impacted by unforeseen financial problems, as was the case for The Cake Bake Company.”