Aulds closes four more stores in retail liquidation

Scottish family bakery Aulds has closed a further four stores after making the decision to liquidate its retail arm to focus on the wholesale and production operation.

The four stores, in Princes Mall in East Kilbride, High Street in Lanark, Union Street in Larkhall and Almondvale South in Livingston all ceased trading on 8 August resulting in a further 23 staff being made redundant.

“Regrettably, we have had to close a further four stores to reduce losses which has resulted in a further 23 employees being made redundant. We are working with local and national organisations to support those employees to process claims as quickly as possible,” said Paul Dounis, RSM restructuring advisory partner and provisional liquidator.

It comes less than a week after 26 Aulds staff were let go when it closed stores in Renfrew, Kilmarnock, Irvine and Ayr.

The closures are part of Aulds’ plans to liquidate its retail arm, which had been forced into an “unsustainable loss-making position”. On 2 August the business appointed Paul Dounis and Steve Ross of RSM Restructuring Advisory LLP as joint provisional liquidators of the retail arm of the group, Thomas Auld & Sons Limited.

The remaining 18 Thomas Auld & Sons Limited stores across Scotland continue to trade while the provisional liquidators seek to sell some or all of the stores to enhance value for creditors and safeguard as many jobs as possible.

The liquidation does not impact the group’s three other subsidiary companies, Aulds Bakeries Limited and Auld the Bakers Limited – which manufacture fresh and frozen bakery at the firm’s Greenock site – and Aulds Delicious Desserts, which has a manufacturing facility at Inchinnan.

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