Mortons Rolls could restart production as soon as this Sunday, according to an MSP.
Bill Kidd said on Thursday that a group of angel investors are in talks to save the iconic Scottish bakery.
It comes a week after the Scottish Government announced it had started ongoing talks with investors in a bid to save the 58-year-old company.
The SNP MSP for Anniesland, which includes the area of Drumchapel where Mortons is based, said he hoped the move will help save jobs at company.
Around 250 staff at the company’s Glasgow manufacturing facility were given redundancy notices on Monday after the bakery ceased trading earlier this month.
It’s not yet known how many jobs would be saved if investors reach a deal.
Kidd tweeted: “I’m delighted to announce that Morton Roll’s will be starting production again on Sunday night under the new angel group owners.
“Apart from saving the very high-quality produce, jobs will be saved through this buy out.”
The Scottish Government and Mortons Rolls have been approached for comment.