Most of the 285 jobs at Yorkshire bakery chain Ainsleys have been saved with the sale of the troubled business.
The Leeds-based family business went into administration in November blaming rising food prices, energy costs and tough competition on the high street.
Administrators at Grant Thornton have found buyers for 20 of its 29 stores across West and North Yorkshire. They hope to sell the other nine shops soon.
Ainsleys' Leeds bakery has been bought by local company Country Style Foods.
Cooplands in Doncaster and Cooplands in Scarborough, which are separate business arms of the same family, have each bought 10 stores.
Meanwhile, the firm's sandwich van business has been sold to A W Food Services.
Joe McLean, a partner at Grant Thornton's Leeds office, has been leading the search for a buyer for Ainsleys since the firm went into administration in November.
He said: "We are really pleased to have found buyers for the majority of the various businesses within the Ainsleys portfolio.
"Negotiations are still ongoing in respect of the remaining nine stores and we hope to be able to announce a positive resolution shortly.
"I would like to thank all Ainsleys staff for their help and support during this difficult time.
"Their loyalty and commitment to Ainsleys, shown by their high standard of work despite uncertainty and terrible weather conditions, has been vital in securing a buyer."