Acorn Pet Centres Ltd In Administration

Scottish pet retail chain, Acorn Pet Centres, has gone into administration. The family run company, which was established in 1984 and is headquartered in Rosyth, has 36 stores and employed 243 staff. With a turnover of £10m, the business sold pets and pet supplies from stores throughout Scotland.

The company which had generated significant profits in the years up to January 2008 had suffered losses over the last 18 months following expansion into a number of new locations.

Tom MacLennan, Kenny Craig and Iain Fraser of Tenon Recovery have been appointed Joint Administrators today, 2 September 2009.

Tom MacLennan, head of Corporate Recovery in Scotland, will continue to trade the business whilst searching for a buyer. He commented today:

"This is a business with an excellent brand and reputation. We have closed a number of the under performing stores and we are confident that the stores that remain can provide a business with an positive future.

"We will be actively searching for a buyer for the business and will continue to trade. However, we will be closing 11 stores and announcing 73 redundancies with immediate effect. We will work closely with appropriate agencies to minimise the impact on those affected and have already begun to market the business for sale. We would urge interested parties to make contact with us as soon as possible.."

The stores being closed immediately are located in: Troon, Perth, Cumbernauld, Hamilton, Greenock, Airdrie, Kirkcaldy, Alloa, Robroyston, Dundee and Stenhousemuir.