Scottish bakery business Aulds is to retain eight of its stores after last month liquidating its retail division.
In August, the business announced the division would be placed into liquidation after a drop in financial performance and increasing ingredient, distribution and wage costs.
Joint liquidators from RSM Restructuring Advisory were appointed to the group’s retail arm, Thomas Auld & Sons Limited, and formally closed that business. Aulds is continuing to operate its two other companies, fresh and frozen bakery business Aulds Bakeries Limited and Aulds Delicious Desserts.
With the news that Aulds is to retain its remaining eight stores, staff in those sites (listed below) and the headquarters admin and distribution team will be offered new jobs as part of a new retail arm of the group.
Seventy-five jobs will be saved as a result, located in the eight remaining shops and at the company’s Greenock HQ.
“It goes without saying that we deeply regret the jobs lost and do not underestimate the impact that will have on the individuals involved and their families,” said Aulds managing director Alan Marr. “We only embarked on this course of action after exhausting every other possibility, but we were simply unable to sustain the losses being made by the retail business.
“We’re extremely pleased that we’ve been able to preserve 75 roles as part of this process and keep the Aulds brand on the high street. The response and support from our customers has been very encouraging and we’d like to thank them for their loyalty during a difficult period for our business.”
Aulds’ remaining retail stores
- The Piazza, Paisley
- St Enoch Centre, Glasgow
- Hamilton Way, Greenock
- Brisbane Street, Greenock
- West Stewart Street, Greenock
- Kempock Street, Gourock
- High Street, Johnstone
- Aitken Street, Largs