Reprieve for furniture store after axe threat
A Stirling furniture store has been given a reprieve after bosses revealed plans to shut 27 stores across the UK.
Oak Furnitureland this week revealed proposals to axe the branches, putting up to 163 jobs at risk.
The furniture retailer released the list of stores at risk of closure, including the branch in Cumbernauld. However, the outlet at Springkerse Retail Park has not been put at risk.
The firm was taken over just last month. On June 15, the company announced that, following a sales process conducted by Deloitte, it had been acquired by global investment manager, Davidson Kempner Capital Management LP.
At that time, it was announced that a strategic company-wide review would be undertaken.
Bosses have blamed the retail environment coupled with“current adverse trading conditions”.
As a result, 27 out of 105 face closure and 163 workers are at risk of redundancy.
All employees at affected showrooms will have the opportunity to take part in consultations.
Commenting on the announcement, Oak Furnitureland CEO, Alex Fisher, said: “The current proposal to close some showrooms forms part of a companywide review that we are undertaking as a business.
We are committed to driving forward a plan for our future growth, and although this has been a difficult decision, it is the right one for the business in these uniquely challenging times.
“We are confident that the decision will ensure we remain a competitive and dynamic choice for our customers.
“I would like to say thank you to all of