Four further Aulds stores cease trading
The joint provisional liquidators of family-owned bakery Aulds have closed a further four stores to reduce trading losses as they seek a buyer for the remaining business and assets of the company’s retail arm.
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 Wednesday, resulting in a further 23 staff being made redundant.
Paul Dounis and Steve Ross of RSM Restructuring Advisory LLP were appointed joint provisional liquidators of the retail arm of the group, Thomas Auld & Sons Limited, on 2 August.
The latest closures follow those directed by the provisional liquidators at Renfrew, Kilmarnock, Irvine and Ayr with the loss of 26 jobs earlier this week.
All affected staff are being assisted to make their claims to the Redundancy Payments Service.
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 upon 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.
Paul Dounis, RSM restructuring advisory partner and provisional liquidator said: “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.’
“We would ask any parties with an interest in acquiring the business to get in touch with us as soon as possible.”