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Greenock bakery Aulds puts shops into liquidation

GREENOCK bakery Aulds has put its shops into liquidation as part of a plan to turn around the business.

The family-owned bakery’s retail business is said to be in an “unsustainable loss-making position” due to pressure from competitors and increasing ingredient, wage and distribution costs.

Aulds currently has 26 shops employing 180 staff and liquidators are assessing the viability of selling all or some of the stores as a going concern in a bid to safeguard jobs.

Paul Dounis and Steve Ross of RSM Restructuring Advisory were appointed joint liquidators for the retail arm on Thursday.

Source : GreenockTelegraph

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