The manager of Overgate Shopping Centre in Dundee is delighted a buyer has been found for a retailer who suddenly stopped trading before Christmas.
Watch and jewellery repair business In-Time had one of the prime retail kiosks within the centre.
It closed with immediate effect on December 22 – with customers unable to access items put in for repair.
One lady told The Courier she had been unable to reclaim a Gucci bracelet worth hundreds of pounds.
On Friday the administrators of In-Time announced a new buyer has been found – the Timpson Group.
Overgate jobs saved
Administrator Geoff Rowley of FRP said: “This deal represents a positive outcome for a long-established retail business that faced into a range of challenges linked to the pandemic and post-Brexit trading conditions.
“The quality of the brand and its customer base ensured that there was strong interest in the business from potential suitors, including a British institution in Timpson.
“It’s a pleasure to be able to secure the future of the business and its employees who will ensure continuity of service for its customers as part of Timpson.”
More than 100 jobs have been saved in the business, which offers services from 38 locations.
Timpson will ensure In-Time customers with personal items currently held in-store will be able to access them. Agreed repair services will be honoured where possible.
Overgate manager’s delight
The news has been welcomed by Overgate Shopping Centre manager Malcolm Angus.
He said: “This acquisition ensures continuity within the mall for our customers and provides job security for In-Time employees who only a few weeks ago were handed distressing news just before Christmas.
“We look forward to working with the company moving forward.”
Declining sales linked to unforeseen kiosk closures and increased material and import costs had impacted In-Time’s cashflow.
In-Time’s assets and its employee base, including senior leaders within the business, will now become part of Timpson.
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