Bread Ahead will remain at London’s Borough Market until March 2028 after its lease was extended, but founder Matthew Jones says he still expects the family bakery may eventually leave because it no longer feels welcome.
Mr Jones had claimed the business was being forced out after being told it was “too successful” and expanding too quickly. He said market representatives had also raised concerns about the company’s overseas branches and the number of customers drawn to its stall.
The bakery has traded at Borough Market since 2013, selling doughnuts, sourdough, pastries and coffee. It has since built a strong following online, while expanding into Asia and the Middle East and preparing to open its first United States site in New York in November.
Mr Jones said the process of renewing the lease had been “infuriating” and criticised what he described as the increasingly difficult environment for businesses in Britain.
“What’s happened to our country? Why are we doing this? Why are we penalising businesses?” he said.
“Why can’t we just have a break and just leave people alone? Just let them run their businesses, employ their staff, pay their taxes, do what they need to do. Because that’s what we’re doing.”
Although the extension gives Bread Ahead more time at the market, Mr Jones said he remained uncertain about its long-term future there.
“We still get the sense that we are not really going to be welcome at Borough Market in the long run,” he said. “At the end of the day we probably will leave in 18 months.”
He said moving to another London location could cost as much as £1 million and had previously warned that the jobs of 83 employees could be put at risk.
“We’re not a big business. We’re not Greggs. We’re not Gail’s. You know, we’re not SpaceX. We’re a family business and we started with nothing,” Mr Jones said.
“Ultimately we’ll just have to find another location locally and move into it because we want to be there for our customers. We don’t want to disappoint people, and it’s great trade. We’ve built up a local reputation.”
Borough Market lease extended to 2028
Shane Holland, chairman of the Borough Market Trust, said the extension did not guarantee Bread Ahead a long-term future at the market.
“Our position on Bread Ahead’s lease expiry is unchanged, and it is important to clarify that the extension agreed does not secure a long-term future for the business at the Market,” he said.
Mr Holland said the extension had first been discussed in July and had remained available during recent negotiations. He added that no agreement had been reached for any period beyond March 2028, but that the market would continue to work constructively with the bakery until then.
Mr Jones said operating the business abroad had been easier, with new ventures planned in New York and Malaysia.
“The speed of things, there’s just no blockages in the way and everyone wants you to do it. It’s just not like that in Britain anymore,” he said.
His comments come as hospitality businesses face higher bills, increased labour costs and changes to employer National Insurance contributions. The rate rose from 13.8 per cent to 15 per cent, while the threshold was reduced to £5,000.
Allen Simpson, chief executive of UK Hospitality, said the National Insurance changes were “the single biggest contribution to job losses we have seen in hospitality over the last two years”.
