McEwens of Perth Ltd has gone into administration, with Blair Nimmo and Tony Friar of KPMG appointed on 24th March 2016 as Joint Administrators to the independently-owned and family-run department store chain based in Perth.
McEwens, established in 1868, is Scotland’s largest independent and family-run department store chain and specialises in affordable fashion, cosmetics and homeware. Its flagship store in Perth features a restaurant, hair salon and medi-spa. It also runs smaller stores in Ballater and Oban.
At the time of the Joint Administrators’ appointment, McEwens employed 110 staff – 97 of which were based in Perth, nine in Ballater and four in Oban.
Unfortunately, the Administrators have had to make 64 employees redundant on appointment- but 46 employees [33 from Perth, all nine from Ballater and all four from Oban] remaining to assist the Joint Administrators.
The stores in Ballater and Oban have closed with immediate effect while the Perth store will reopen from Friday 25th March for the closing down sale.
McEwens of Perth has been trading on the same site since March 1868 and started as a women’s fashion retailer. In 1982 the business was acquired by the Bullough family who expanded its range to include quality homeware.
Despite further expansion with the opening of new stores, the business experienced challenging trading conditions resulting in the closure of its loss-making stores in Inverness and Aberdeen in 2015.
Blair Nimmo, Joint Administrator and UK Head of Restructuring for KPMG, says: ‘Despite the directors’ best efforts, McEwens of Perth continued to incur trading losses as a result of the many challenges being felt by the retail sector. Inevitably this has led to the unfortunate demise of a well-known and highly-regarded brand.
‘We have started a closing down sale in a bid to realise assets, and are grateful to the remaining staff for their efforts and assistance. We are working with those staff made redundant to ensure they receive the necessary support from relevant agencies.’
Any parties interested in acquiring the business or its assets should contact the Joint Administrators immediately.
Further advice will soon be made available for customers with outstanding orders and returns.