Bread Ahead has secured its future at London's Borough Market after reaching an agreement with the market's management, but owner Matthew Jones says the "trust is no longer there" between his company and the market.
The bakery, which has operated at the iconic market since 2013, faced eviction last month when its contract was not renewed following the company's international growth. The business is set to open a New York site next month.
Lease Extension Agreed
Six weeks after the initial announcement, Mr Jones revealed that the October 17 deadline to leave the site has been extended. The ground floor area, where the bakery sells pastries, donuts, sourdoughs, and coffee, has been given a longer-term lease, while the mezzanine area used for cookery and bakery classes has been extended by 18 months.
Mr Jones told The Standard that his first reaction to the news was relief for his 83 members of staff, many of whom have worked at Bread Ahead for over a decade.
Owner's Concerns
Despite the extension, Mr Jones expressed frustration, saying a longer lease would have been a better outcome. "I'm still sort of at a loss for it as to why we would ever have to move," he said, adding that he believes there is a "cull" going on at the market and that more businesses will soon be forced out.
He also criticised London landlords for not considering tenant loyalty. "If a business has been in place for, you know, 15 years then the general consensus would be to just to leave it alone."
Public Reaction and Future Plans
Mr Jones noted that public reaction to the bakery's plight was initially positive but soon "went downhill." He said some people suggested Bread Ahead should "move aside and make way for a new business," which he dismissed, noting there are "loads of empty spaces around."
Looking ahead, Mr Jones said Bread Ahead will eventually leave Borough Market, but he can relax knowing the time pressure has been removed. "I do consider 18 months a pretty long time really. A lot can happen in that time."
He added: "So the only option I'm really left with is just to keep pushing forward," as Bread Ahead prepares to open its first New York site next month.
The Standard has reached out to Borough Market for comment. A spokesperson previously said: "Our relationships with traders are really important to us, whether they're actively trading or as part of our alumni of success stories. No matter how long businesses are with us for, we value their contribution to making Borough Market what it is. As a responsible landlord, our decisions around lease renewals are made through a formal process and communicated to the trader well in advance of the expiry date."
