Iconic 120-year-old bakery chain confirms it will close ALL stores for good putting 100 people out of work
AN ICONIC 120-year-old bakery chain has confirmed it will close all its stores for good – putting 100 people out of work.
The beloved, family-run chain, founded in 1905, was famed for its freshly-baked loaves and crisp pastry pies.
It has branches across Lancashire – spanning the areas of Burnley, Colne, Foulridge, Nelson, Padiham and Todmorden.
A spokesperson for the company has now confirmed to the Sun that all 16 sites will be closing for the final time on Saturday, 11 January.
This will include 100 job losses – in a huge blow to the local community.
In a further statement, a spokesperson said: “We are truly saddened to confirm the closure of Oddie’s Bakery and Oddie’s Shops across East Lancashire on Saturday, January 11, after 120 years in business.”
They explained that the business took a major hit after the pandemic – and that initial efforts to claw back revenue had proved insufficient.
They said: “Over recent years and compounded by the Covid-19 pandemic the business has faced significant hardships.
“Economic slowdown has had a profound impact on the business’ ability to operate at levels we were accustomed to.
“The company reacted through a combination of centre shop closures, product range rationalisation, and reducing staffing levels to the bare minimum.
“The business was beginning to see the shoots of recovery.
“Like all businesses, cost pressures have continued to escalate, not least through the energy crisis which has depleted much of the company’s reserves.
“This has put a heavy strain on the company’s finances and ultimately the cost to reinvest and recover.”
The news comes just a few months after the company announced it was scrambling to secure an urgent rescue deal after a last-minute sale of the company fell through.
Director Lara Oddie described the situation as “heartbreaking,” emphasising the bakery’s deep roots in the community.
She said: “Over the decades, Oddie’s has been a cornerstone of the local community, but with an energy crisis quadrupling costs and fewer shoppers on the high street, we had to make the difficult decision to sell.”
But an eleventh-hour withdrawal by an unnamed prospective buyer left the family with no choice but to consider closing its doors for good.
“This is a heartbreaking situation for us, our devoted staff, and the loyal customers in Burnley and Pendle who have cherished our unique products,” Lara added.
Why are retailers closing stores?
RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis.
High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.
The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre’s director, Professor Joshua Bamfield, said the improvement is “less bad” than good.
Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.
“The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend,” Prof Bamfield said.
“Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult.”
Alongside Wilko, which employed around 12,000 people when it collapsed, 2023’s biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.
The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.
The company then enlisted the help of Azets, a leading accounting and advisory firm, and Brabners Solicitors to explore alternative solutions.
As well as the pandemic, the chain had also weathered various other storms during its long history – including two world wars, the Great Depression, and the fall of Lancashire’s cotton industry.
It is not the only bakery to struggle recently – as even the giant Greggs, which has over 2,500 branches across the UK, was forced to close a branch in Coventry this month.
Other closure news
Unlike Greggs which provides varied services, many stores which rely on high street footfall are suffering with the cost of living.
Increased online shopping and hiked-up rent prices have spurred huge numbers of closures in towns.
For example, Homebase crashed into administration in November, but it was partially rescued by billionaire Chris Dawson who owns The Range and Wilko.
He is looking to retain up to 70 stores and save 1,600 jobs, however, closing down sales are appearing in stores all across the country.
To find out if a Homebase is closing near you, go on the retailer’s website and use the Store Locator.
If you want to keep updated on all store closures in your area, it helps to join a community Facebook group.
People usually post regular updates about high street changes on there – meaning you’ll be one of the first to know.