Morton's Rolls could be back up and running by Sunday, the Clydebank Post has been told.
Local MSP Bill Kidd was speaking amid reports that all staff at Morton's had been told they no longer had a job.
The Drumchapel-based bakery ceased trading on March 3 after 58 years, with up to 250 jobs at risk.
This week, liquidators lettered employees saying their employment had been 'terminated as of March 7'.
But the Post understands that managers may be called in today to discuss beginning roll production on Sunday with the delivery of rolls on Monday.
Mr Kidd said: "The liquidator by law has to put out the redundancy notices.
"They have no money to keep anybody on, so it's a legal process that once the company has been wound-up, everybody gets made redundant.
"But the assets of the company are in the process of being bought by the group that wants to restart Morton's Rolls.
"This is in the final process of being very successful and they're looking at calling the managers in today to see who they need to start the roll process for Sunday night."
It is understood that a buyer will come from an investment group called the Angel Group, which hopes to focus solely on roll production at the initial stage - the core business of Morton's - and not the other baked goods they made such as cakes and biscuits.
But it is not yet known how many jobs will be saved when a purchase is complete.
Mr Kidd, who has been in contact with the new group, added: "They are in the final stages of their agreement with HMRC regarding the outstanding monies that HMRC are owed.
"But that seems to be the final obstacle."
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