A subsidiary of Edinburgh Woollen Mill has bought 77 outlets of Rosebys, which fell into administration in September, as well as all of the company’s stock.
The sale of the value home furnishing retailer’s stores to Duvetco has saved 495 jobs, as these employees will now transfer to the new owner.
However, 59 outlets will close today, resulting in 310 redundancies.
This is on top of the 142 store closures and 946 redundancies already made since the Roseb hit the buffers.
KPMG handled the administration and sale.
KPMG restructuring associate partner Howard Smith, Roseby's joint administrator, said: “Clearly it is unfortunate that further redundancies have been unavoidable. But in difficult trading conditions, the sale of a number of stores has been secured, which will safeguard many jobs and help achieve a return for creditors.”
KPMG has set up a Rosebys employee hotline - 0845 094 1777 - to provide information and support to employees who have been made redundant.
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