Bakery stores in administration

Yorkshire bakery chain Ainsleys has gone into administration - putting almost 300 jobs at risk.

The Leeds-based family business, which was founded 71 years ago, blamed rising food prices, energy costs and "severe competition" on the high street.

The company has 29 stores across West and North Yorkshire.

Joe McLean and Keith Hinds, partners at accountants Grant Thornton, have been appointed joint administrators and are looking to sell the company.

The company, which is supplied by its own bakery in the Sheepscar area of Leeds, employs 263 full and part-time workers and a further 30 temporary staff.

Takeover talks

Administrator Joe McLean said: "The high street is under siege and there has been intense competition in food retail from the multiples.

"Like many business of its size, this has been a loss-making business over the past couple of years.

"It has not been making enough profit to invest in new lines which would be attractive to the changing tastes of the consumer."

He said he was in talks with several interested parties about a possible takeover, but it could be "a week or two" before he knew if any of them would consider a buyout.

"I will be trying to find a buyer for all or part of the business," he said.

"In Britain in 2009 nobody could be confident, but we will be trying as hard as possible."