Rosebys falls into administration

Sep 26 2008

Jobs under threat at textiles chain

THERE was uncertainty for Scottish staff at Rosebys after the retail chain went into administration.

The curtain and home furnishings specialist has stores across Scotland in Glasgow, Paisley, Stirling, Livingston, Dundee, Kilmarnock, Greenock and Glenrothes.

Across the UK it employs around 2,000 staff and has sales of £100 million.
 
A restructuring team from KPMG said the chain would continue to trade as normal while a buyer was sought.

Joint administrator Howard Smith said: "The business is continuing to trade as normal while we review the financial position and seek a going concern sale. No employees have been made redundant to date.

"In common with many retailers, the group has experienced difficult trading conditions, leading to continuing losses. Rosebys has recently sought to re-finance, but this did not prove possible in the current economic climate. We are looking for offers for the whole or any part of the business."