Scottish department store Watt Brothers goes into administration

Eleven stores to close and 229 out of 306 staff made redundant with immediate effectThe Scottish department store group Watt Brothers has collapsed into administration with the immediate loss of nearly 230 jobs and about 80 more at risk.All 11 of the group’s stores were closed on Friday, but the flagship outlet on Glasgow’s Sauchiehall Street will open on 19 October for a clearance sale as administrators from KPMG seek a potential buyer.What’s the problem? Continue reading...