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Watt Brothers: More cuts as talks held with potential buyers

Administrators have made 19 more staff redundant after 229 were axed last month.

Jobs: More staff have been made redundant <strong>STV</strong>
Jobs: More staff have been made redundant STV

Watt Brothers has been forced to make 19 more staff redundant as administrators hold talks with potential buyers.

Blair Nimmo and Alistair McAlinden, of KPMG, are continuing to clear remaining stock and exploring all options for the retail outlet.

The fourth generation family-owned business operated a chain of stores throughout Scotland, before it went into administration on October 18 with the loss of 229 jobs.

Watt Brothers’ main store on Sauchiehall Street, Glasgow, remains open and has been stocked with items from the firm’s ten other stores, which closed after the administrators were appointed.

KPMG is still in talks with those who have shown an interest in acquiring the business and trading is expected to continue into December.

In an effort to clear remaining stock, all prices have now been reduced by up to 20%.

KPMG said: “Since the date of appointment, it has been necessary to make a further 19 employees redundant. A further 59 members of staff continue to provide assistance, primarily with the stock clearance event at the Sauchiehall Street store.”

Blair Nimmo, joint administrator and UK head of restructuring at KPMG, said: “I want to thank the Watt Brothers staff who have worked tirelessly to assist with the stock replenishment and clearance.

“Throughout this process, we have been exploring a range of options and seeking the best possible outcome for the business, which is clearly close to the hearts of shoppers in Glasgow and throughout the central belt.

“We are working closely with Skills Development Scotland, via their PACE team and JobCentre Plus to support the staff who have been made redundant and we would encourage any party who has an interest in acquiring the business and its assets to contact us as soon as possible.”

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