FOLLOWING advice from lawyers and an insolvency practitioner, the owners of Haldanes Stores Limited have made the decision to seek an administration order for the business in order to protect their position.
Locally, staff have stated that the store in East Muirlands Road will close on Tuesday.
Arthur Harris, chief executive officer of Haldanes Stores stated: “The directors and I are devastated at having to take this step and our thoughts are with our employees in Arbroath who find themselves facing an uncertain future.
“We would like to publicly thank them for their efforts and loyalty during their time with Haldanes. We will work closely with the administrator and do our utmost to secure the future of a group of stores in the Haldanes estate.
“The directors and I would like to assure employees and suppliers of Haldane Retail Group Limited, UGO Stores Limited, Haldanes Express Limited and Bakery Products Limited that these businesses are unaffected by this development and will continue to trade as normal.”