Bakery firm Aulds will retain eight of its high street stores as part of its turnaround plan
Aulds will retain eight high street stores, after its retail business was placed into liquidation last month.
A total of 75 jobs will be saved in these shops and the administration and distribution teams based at the company’s Greenock headquarters.
The business announced last month that its retail division would be placed into liquidation after a sustained drop in financial performance and increasing ingredient, distribution and wage costs over several years, consulting with 180 employees over 26 stores and its head office retail team.
Joint Liquidators from RSM Restructuring Advisory were appointed to the group’s retail arm, Thomas Auld & Sons Limited and formally closed that business yesterday.
Staff in eight stores and the HQ admin and distribution team will be offered new jobs as part of a new retail arm of the group. The other stores in the group have been closed.
Alan Marr, managing director of Aulds, who is a fourth-generation descendent of founder Thomas Auld, said: “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. 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 will continue to operate its two other subsidiary companies, Aulds Bakeries Limited – which manufactures fresh and frozen bakery at the firm’s Greenock site – and Aulds Delicious Desserts, which has a manufacturing facility at Inchinnan. A further 200 jobs at these sites are also protected.
Paul Dounis, joint liquidator, said: “This deal represents the best deal for customers and creditors of Aulds, and we’re grateful to staff and customers for their understanding over the last few weeks.”
The following stores will remain open:
• 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