The family business is headquartered in Durham, North East England and has a network of 58 stores, contracts with supermarkets and direct mobile sales.
In the most recent financial statements the firm’s turnover was pegged as more than £12m (€14.9m).
Mark Firmin, KPMG’s Northern head of restructuring and joint administrator to Peters Bakery, said that the failure of the business can be owed to “the challenging retail environment on the high street, exacerbated by rising commodity and energy prices squeezing margins in this sector.”
