• STV
  • MySTV

Watt Brothers goes into administration with 229 staff axed

More than 200 workers have been made redundant as administrators were appointed to the business.

Hundreds of jobs have been lost with immediate effect as Watt Brothers goes into administration.

Staff were informed of the redundancies on Friday morning as Blair Nimmo and Alistair McAlinden, of KPMG UK LLP, were appointed joint administrators of the family-owned business.

Upon their appointment the administrators said they had no choice but to axe 229 of the company's 306 employees.

Those remaining have been retained to assist the joint administrators to realise the company's assets, including stock and the freehold property.

They are now exploring whether an early sale of some of the business and assets can be secured.

Watt Brothers will continue to trade from the flagship store in Glasgow where a stock clearance event will begin on October 19.

Stores in Ayr, Clarkston, Clydebank, Falkirk, Hamilton, Irvine, Lanark, Livingston, Port Glasgow and Robroyston will all be affected.

Blair Nimmo, joint administrator and UK head of restructuring at KPMG, commented: "Despite the director's tireless efforts to increase margins, cut costs and recapitalise the business, Watt Brothers continued to incur trading losses as a result of the well-publicised challenges being experienced across the retail sector.

"Ultimately this has led to the unfortunate demise of a well-known and highly-regarded business.

"We will be holding a stock clearance event, and are grateful to the remaining staff for their efforts and assistance at this difficult time.

"We are working closely with Skills Development Scotland, via their PACE team, and JobCentre Plus to support the staff who have been made redundant.

"We would encourage any party who has an interest in acquiring the business and its assets to contact us as soon as possible."

Watt Brothers is a fourth generation family owned business incorporated in 1915 which operates a chain of department stores including its freehold flagship store on Sauchiehall Street, Glasgow and a further ten leasehold stores across Central Scotland.

The stores sell a wide range of well-known branded products across departments including: fashion, electrical, homeware, jewellery, outdoor pursuits, gifts, health and beauty.

Download: The STV News app is Scotland's favourite and is available for iPhone from the App store and for Android from Google Play. Download it today and continue to enjoy STV News wherever you are.

One account. All of STV.

This field is required. That doesn't look like a valid e-mail format, please check. That e-mail's already in our system. Please try again.
ShowHide
Forgot password?
This field is required. This must be at least 6 characters long. Did you enter your details correctly?
If you've forgotten your details then use the 'Forgot password?' link.
Need to reset your password?

We'll send a link to reset your password to

We've sent you details on how to reset your password

Please check your email and follow the instructions.

Forgotten your email address?

Have you forgotten the email address that you previously joined with? Don't worry, by emailing enquiries@stv.tv we can help.

One account. All of STV.

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
This must be at least 6 characters long.
ShowHide
This field is required. This must be at least 6 characters long.
You must be over 16 to join STV.
This field is required. This doesn't appear to be a valid date
We need this to check that you live in an STV region.
This field is required. This doesn't appear to be a valid postcode
Would you like us to email you about our great shows and services from time to time?
We'll only send emails we think you'll like (see example) based on information you have supplied and shows you have watched on STV Player. For details on emails and advertising, see our STV & You page.
Would you like to receive emails from the Scottish Children's Lottery about draws, instant games and competitions?
We support the Scottish Children's Lottery (SCL), which is managed by our colleagues at STV ELM Ltd. You can find out more about the SCL on its website, including its Privacy Policy.

By continuing you agree to our Terms of Use, and understand our Privacy and Cookie Policies.

Upload Profile Picture

Please make sure your image is under 2mb in size and a valid JPG, PNG or GIF.

Are you sure?

Unfortunately, you'll be unable to access our premium content. We’ll be sorry to see you go, but if you change your mind you can rejoin us at any time.

Please verify your STV account

Please verify your STV account using the email we sent you. If you have lost the email, we can send you another one, just click the button below.

Thanks

We've sent you a new verification email.
Please check your email and follow the instructions to verify your account.

Welcome to STV
Thanks for joining us.

Oops!

Sorry, you must be at least 12 years old to place a vote for your Real Hero.

Please review our Voting Terms of Use for more information.

Oops!

Sorry! It seems that you are using a browser that is incompatible with our voting service.

To register your vote please copy the below URL in to your regular mobile browser. We recommend Google Chrome, or Safari.

http://shows.stv.tv/real-heroes/voting

Oops!

Sorry, you seem to have already voted in this category.

Thanks for voting

Now share your vote with friends on your social network

Share on twitter Share on facebook

Cast your vote

Please register or sign in to continue.

Cast your vote

This field is required. This doesn't appear to be a valid date

Cast your vote

Please fill out this form to cast your vote. As you are under 16 years old you will not create an STV account. Why do we need these details?

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
This field is required. That doesn't look like a valid e-mail format, please check.
Location This field is required.
Parental Consent This field is required.

That's you. All that's left is to click the 'Submit Vote' button below. By doing so, you confirm that you and your parent or guardian have read and accept our Voting Terms of Use, Privacy Policy and Cookie policy, and that the details you have entered are correct. We'll look after them as carefully as if they were our own.