The company – which formerly ran more than 100 high street bakery and coffee shops – has been forced to close the remaining eight of its 16 stores across the Midlands and south of England.
Cameron Gunn, Mark Supperstone and Simon Harris have been appointed joint administrators.
Gunn explained: "The administrators will continue to trade eight of the stores with a view to selling the business and assets as a going concern.
"The remaining eight stores have been closed or had ceased to trade shortly before our appointment."
The bakeries – run by directors Richard Prime and Steven Greaves - specialised in traditional British baked goods as well as coffees from around the world.
In 2006, the Solihull-based chain purchased 123 bakeries and saved some 900 jobs of fellow industry strugglers the Three Cooks.
But in 2008 the number of shops had fallen to about 80 and, two years later, this had dropped once again to around 65.
The company also formerly offered a van delivery service and schools catering business.
Director Richard Prime, 57, was formerly a director at Analysis Investment Management plc.
By Andy Pearce