Family baker Mathiesons has been forced to sell part of its business to protect 240 jobs.
Administrators have been called in for the second time in two years in a bid to save the firm which is facing another financial crisis.
But the price is the closure of 20 shops including outlets in Falkirk’s Callendar Square, Stenhousemuir, Grangemouth and Bo’ness with the loss of 84 jobs.
Another eight have been bought by Prestige Bakeries which is owned by Mathiesons’ biggest shareholder Pemberton Capital. The deal sees them taking over the bakery shop at the company’s headquarters at the Central Retail Park in Larbert and premises in Camelon, Falkirk’s Cow Wynd, Grangemouth La Porte Precinct and Denny.
A spokesman for administrators KPMG said: “The early sale of the business is a positive outcome from what has been a difficult period for the company and its staff.”