Shoe merchants William Smith, one of Scotland’s oldest family footwear businesses, is closing with the loss of 162 jobs
The 146-year-old Dundee firm, which trades as DE Shoes and Foot Factory and has its headquarters at the Dryburgh Industrial Estate, consulted staff over redundancies.
It encountered difficult trading conditions and suffered a pre-tax loss of almost £500,000 compared with a profit of £162,000 the year before.
The consultation was concluded on April 19 and the company yesterday said that despite all efforts, no viable alternatives to closure were identified and attempts to sell the business were unsuccessful.
Five stores were sold in March, saving some retail jobs, and there was some interest in a few of the remaining stores as going concerns.
No buyer emerged for the company and its 25 DE Shoes and Foot Factory outlets, however, and notice of closure has now been given to the 162 staff.
The shops are spread throughout Scotland with many in Tayside and Fife. A closing down sale will begin on Wednesday with 25% off all stock.
Managing director Robert Sinclair said: “The closing down sale could be seen as a final thank-you to all our local communities for their custom and support over the generations.
“I am immensely sad that in the company’s 146th year it has proved necessary to decide to wind it up.
“The last months have been incredibly difficult for everyone but I have been grateful for the ongoing support from members of the public who do not want to see their local shoe shop close.”
The company would continue to consult with interested parties looking to take on any of the remaining stores as going concerns.
Dundee City West MSP Joe FitzPatrick said he will raise the issue with enterprise minister Fergus Ewing.