Wesley Owen: Bids for Individual Stores Not Ruled Out

In an interview posted by the Edinburgh Evening News (24/11/2009, cross posted at Scotsman.com), David Young, General Manager of IBS-STL, has acknowledged the possibility of the Wesley Owen chain being split if buyers can be found for individual branches or groups of shops:

He said he understood there had been “significant interest” from possible buyers but did not want to raise hopes.

However, the fact Edinburgh is one of the company’s biggest stores in terms of turnover and has a central location could make it a more attractive proposition than some other parts of the business.

Mr Young added: “We are really keen to sell as much as we can to secure the jobs.”

He said a potential buyer would not have to bid for the whole chain, but might be interested in individual shops or a cluster of shops. “We are taking the next few weeks to gauge the level of interest, then we hope to make some kind of announcement.”

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