‘Angel investors’ could save the 58-year-old Scottish bakery that abruptly stopped operations on March 4. Its staff of around 250 people were informed in a letter that they were “laid off with immediate effect”. The bakery missed its December 31 deadline to file accounts for the year.
Quoting the letter sent to the staff, BBC reports: “The company is ceasing to trade with immediate effect. The directors have taken steps to ensure that the business can continue in some form. But it is likely that this will be with a reduced workforce across the business.”
Leader of Glasgow City Council, Susan Aitken, acknowledged that “swift action” was needed to support the employees together with the management of the bakery, following this sudden, “big blow to the community”, The Evening Glasgow Times quotes.
However, on March 6, night Labour MSP Paul Sweeney announced that Mortons Rolls may be saved after a “positive discussion with angel investors”. He tweeted that, “I’ve had a positive discussion today with angel investors who are prepared to buy @mortonsrolls, saving the brand and many of the jobs. Time is of the essence to secure the factory lease and jobs. I have requested that Scottish Ministers engage with the investors within 24 hours.”
On March 7, Sweeney posted a positive update on the effort to save the bakery:
Update: I held positive talks with the government today and they have agreed to meet with the investors aiming to save Mortons & protect the jobs at the factory. It’s now for the government to ensure that a deal is done & this famous Glasgow brand can survive for decades to come. https://t.co/CzSjSkF2gC
— Paul Sweeney (@PaulJSweeney) March 7, 2023
Bill Kidd, SNP MSP for Glasgow Anniesland, told BBC Scotland he was “taken aback” by the letter and had arranged a meeting with the company’s management: “There have been issues in the past but we’ve got good relations with Morton’s Rolls, they are terrific company and are a very important employer in Drumchapel. Morton’s Rolls is a famous name and we want to ensure that is maintained and even developed into the future. Everything that can be done to save this business will be done,” BBC reports.
Morton’s Rolls reported a GBP 262,00 loss on a turnover of more than GBP 11.8 m in 2020.
Photo: Morton’s Rolls social media