Future of Watt Brothers department store chain in doubt

A Watt Brothers store. Picture: Michael Gillen
A Watt Brothers store. Picture: Michael Gillen
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The future of the oldest department store company in Scotland is in jeopardy.

The existing owner of Watt Brothers in Glasgow has vowed to sell off the four-storey Sauchiehall Street branch to repay debts.

Willie Watt said the proceeds would be ploughed back into the struggling business to help fund an expansion plan.

The rescue plan comes after the company’s recent annual performance report, which showed the 11-store firm made a loss of almost £750,000 on group sales of more than £21 million.

Mr Watt told the Herald: “The last few years in the retail sector have been brutal. Older stores do not lend themselves to modern retailing - people are looking for deals and bargains all the time.”

He added: “We are potentially looking at a new site in Glasgow. If we do move, it would be to a site that is all on one floor.”