A bakery will expand after securing a £1 million loan. R. T. Stuart Ltd, which has 16 shops in Fife, is planning to widen the availability of its produce across Scotland after the Clydesdale Bank agreed the money in the form of a loan and overdraft.
Managing director Alan Stuart, who secured Fife as home of the World Scotch Pie Championships and is president of the Scottish Bakers Trade Association, said the firm’s bread, pies and cakes would be supplied to small, independent supermarkets.
He said, “Stuart’s is an established bakery and butchery service, which has traditionally focused on the retail industry across Fife.
“In recent years we worked in a wholesale capacity with some of the UK’s larger supermarkets, supplying pre-packaged bakery and butchery goods.
“However, we found that the type of relationship that these organisations were looking to develop with us was not conducive to our company’s ethos of providing fresh, quality foods and establishing long-lasting business partnerships.”
“We believe that smaller, privately-run supermarkets such as Spar and David Sands will provide more appropriate and meaningful business opportunities for us to develop the wholesale side of the business.
“These companies appreciate supplier continuity, quality products, family-run brands and establishing sound business partnerships.
“While we are excited about developing the wholesale side of our business, we would like to reassure our existing customers that Stuart’s will remain firmly committed to the retail side of the business, which our Fife customers have come to know and love.”
Established in 1857, R. T. Stuart employs 180 staff and its turnover was just under £4m for financial year 2010/11.
Clydesdale business development partner Andrew McGeorge said, “The firm has an excellent track record throughout this part of the country, and we are delighted to support the company as they progress to develop the wholesale side of the business.”