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Preston’s cake institution Lathams is due to go into liquidation.
Trading since the 1970s and starting out at a family home in Broughton the firm has now filed for insolvency.
Companies House records show the Latham family stepped back in November 2019 – with Jonathan Barton now listed as the sole director of the business.
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Operating from Caxton Road in Fulwood the cake-makers have supplied Preston supermarket chain Booths for many years with their range of cakes and other bakery items. Latest accounts – for 2022 – showed the firm had 85 staff on its books.
A notice in The Gazette – the official public record for business administration notices – states a meeting has been called ‘for the purposes of creditors to decide on the nomination of a liquidator’.
Annette Reeves of Beesley Corporate Recovery in Manchester has been nominated as the liquidator and the meeting, due to take place on 23 August at 11.30am, has been called by Jonathan Barton.
Co-founder of Lathams, Gwen Latham, died in April this year – aged 94 – from heart failure.
Blog Preston visited the Fulwood site on Tuesday (13 August) which was trading as usual.
Mr Barton told Blog Preston the firm had been left with no option but to file for insolvency after a repayment plan with HMRC was terminated early by the Revenue.
He said: “We had a five-year agreement but they decided to change that and left us needing to find a figure north of £500,000 very quickly.
“We couldn’t do that as a business and so sadly this is our only choice now.
“I am hopeful there’s a way a new bakehouse will take over here and we’ll be able to keep some of the jobs, because there’s a lot of people who have worked very hard on this business over the years.”
Mr Barton said the rapid price-rises of wheat and butter had also contributed to the firm’s financial situation.
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