One of Scotland’s long-established retailers, Jonstons of Elgin, is expected to shed up to 60 jobs amid a slump in sales.

The company has been trading for more than two centuries and had enjoyed three years of strong growth after the pandemic.

However, it said am “unexpected” slowdown this year means around 60 full-time equivalent jobs, about 8% of the 750 employees, will be made redundant in Moray.

Trade union Unite said it will demand there are no compulsory redundancies as it enters talks with management.

A spokesperson for Johnstons of Elgin said: “In results to be filed later this month, Johnstons of Elgin will disclose sales for the year ending December 2023 of £100m, up 20 per cent on the prior year.

“We have seen strong growth in each of the last three years in line with the overall strength of the luxury market following the pandemic.

“However, in 2024 the market has slowed considerably, due to global economic uncertainty and changes in consumer behaviour.

“We now expect sales in 2024 to be lower than last year and have had also to revise downward our future projections for 2025.”

The statement added: “Unfortunately, this means that we will have to consult with our workforce in Elgin to restructure our team in line with current and expected future demand.

“We expect 60 full-time equivalent roles to be affected from a total workforce of around 750 at this location.

“There are no plans to reduce our workforce in our Hawick mill, where volumes have been less impacted.”