BusinessBusiness RecoveryE&Y to close 70 stores at Scottish retail chain

E&Y to close 70 stores at Scottish retail chain

Administrators from Ernst & Young will close 70 stores at Scottish discount retail chain Your More Stores with the loss of 434 jobs.

Link: Business recovery news

Stores are being closed across Scotland, including Edinburgh’s Ferry Road branch, and branches in Kilmarnock and Dundee, according to thisisnorthscotland.co.uk.

E&Y was appointed administrator on 2 September.

Joint administrator Garry Wilson said: ‘A number of the company’s stores have been loss-making for some time and therefore, unfortunately, it is necessary to close these stores to try and preserve the remaining business and associated jobs.

‘The stores being closed are those previously identified by management as underperforming, but where the long-term property lease commitments made the closure costs prohibitive until our appointment.’

Wilson said there was still interest in 87 other store, which were attractive to potential buyers.

YMS has 180 outlets UK-wide. The firm, which has a turnover of £55m, has its headquarters in Wetherby, Yorkshire.

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