A provisional liquidator has been appointed to Mortons Rolls after the bakery collapsed into administration.
Scotland’s business minister said Scottish Enterprise would liaise with the unnamed liquidator.
On Friday, Ivan McKee said: “Yesterday, I met with a representative of potential investors to listen to their proposal. Scottish Enterprise will also liaise with them and the appointed provisional liquidator.”
The famous brand could be saved from closure after a future deal with investors was teased on the firm’s website.
An announcement on the Mortons Rolls website, posted on Friday afternoon, said: “Nae Rolls? Watch this space”.
The statement appears to be a reference to the “Nae Rolls” sketch from Burnistoun starring Iain Connell and Robert Florence.
The Glasgow-based firm ceased trading after entering administration last week.
A total of 250 jobs were put at risk as a result of the move with threats the Drumchapel factory could close its doors for good.
Earlier this week the Scottish Government met with investors in a bid to find a solution. Scottish business minister Ivan McKee held the meeting on Thursday afternoon.
Politicians including Glasgow Labour MSP Paul Sweeney were among those to call for the company to be rescued.
He stated that “time is of the essence” to secure a lease for the factory and save jobs.
He also announced that Mortons Rolls could be saved following a positive discussion with angel investors.
He tweeted: “I’ve had a positive discussion today with angel investors who are prepared to buy @mortonsrolls, saving the brand and many of the jobs.
“Time is of the essence to secure the factory lease and jobs. I have requested that Scottish Ministers engage with the investors within 24 hours.”
Susan Aitken, the leader of Glasgow City Council also said the local authority’s priority was supporting those facing job losses “as quickly as possible”.
During FMQs, Nicola Sturgeon addressed the news and said: “I, like everyone else, was deeply concerned of the company’s decision to cease trading last week.
“In my pre-politics life I used to work in Drumchapel. I know how important a company like this is to people there and to the sense of community.
“Of course, Mortons is an iconic Scottish brand.
“The Scottish Government, working with Glasgow City Council, will do everything we possibly can to see if there’s a rescue package that allows the company to continue trading and to continue to make the contribution that it has made for some time to the community of Drumchapel.”
Formed in 1965, Mortons Rolls began with the sale of morning rolls before branching out into baked goods.
The brand has become a Glasgow institution with many expressing dismay over the closure threat.
The administration news comes after the business announced a six-figure deal with Lidl in 2021 to provide rolls and other items and said they were making a significant investment in new machines and new jobs.