Mortons Rolls will begin production again at the weekend under new owners, it is understood.
Around 230 employees were hit with redundancy notices last week after the Glasgow bakery went into liquidation earlier this month.
Workers were left in uncertainty for a week before they were informed on Monday that they had been made redundant as of March 7.
Production will now begin again on Sunday evening under the new Angel Group owners, a local MSP has said.
Glasgow Anniesland representative Bill Kidd said: "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. #mortonsrolls"
The buyer is understood to be from an investment group called the Angel Group and is believed to be focusing solely on roll production for the time being.
But the exact number of job that could be saved when the deal is complete is not yet known.
Mr Kidd told the Clydebank Post that the assets of the company are in the process of being bought.
Angel Group have been contacted for comment.
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