Morrisons has appointed advisers to explore the possible sale of its bakery business, Rathbones, in an effort to reduce debts caused by inflation. The bakery has a 28,000 sq ft factory in Wakefield, West Yorkshire. Delloite is assisting the supermarket in this assessment, The Retail Gazette reports, adding that there is speculation that private equity company Endless may be a potential buyer – citing industry sources. The talks are reportedly an early investigation and an actual sale might not take place, The Telegraph reports.

Rathbones has been owned by Morrisons since 2005, when the acquisition saved it from administration. Around 400 employees work there. The bakery produces 47 product ranges, including crumpets, hot cross buns, bread rolls, seeded loaves, muffins, pancakes, naans and pittas. It reported sales of GBP 62 million in 2022, according to The Daily Telegraph.

Photo: Morrisons social media