Romesh Ranganathan 'gutted' over bakery closure
Summary
Comedian Romesh Ranganathan is disappointed after Coughlans Bakery, an 89-year-old bakery chain he partly owns, closed down. The bakery stopped trading due to financial pressures including higher employer taxes, business rates, rising fuel costs, and poor sales during recent hot weather.Key Facts
- Coughlans Bakery operated shops in Kent, Surrey, West Sussex, and south London.
- The business went into voluntary liquidation and stopped trading on a Tuesday.
- The closure was blamed on increased national insurance contributions for employers starting in April last year.
- High business rates and a rise in fuel prices, partly due to conflict in the Middle East, added £20,000 in costs per week.
- Recent heatwaves in southeast England led to much lower sales, about half of normal weekly income.
- Romesh Ranganathan became a co-owner in 2024 and supported the bakery because of its vegan products.
- Managing director Sean Coughlan thanked Ranganathan for his support and expressed regret that the business let him down.
- The liquidation was chosen to ensure the bakery could still pay employees and suppliers.
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