Burton’s Foods, the biscuit group that makes Jammie Dodgers and Wagon Wheels, has been taken over by its lenders in a debt restructuring that leaves Duke Street Capital, its private equity owner, nursing one of its biggest losses.

The fate of Duke Street’s investment in Burton’s comes just over two years after its plans to close one of the biscuit maker’s factories caused the private equity group to be dragged in front of a parliamentary inquiry for questioning.