'Sovereign Bakeries' failing, remain closed down (6)
I believe the answer is:
kaiser
'sovereign' is the definition.
(I know that Kaiser is a type of Kaiser)
I cannot understand how the rest of the clue works.
Can you help me to learn more?
(Other definitions for kaiser that I've seen before include "Austrian bigwig" , "Emperor of Austria or Germany until 1918" , "Former German emperor" , "Ruler over empire" , "Old German emperor like Bill" .)