Urgent talks are under way in a bid to secure the future of businesses affected by the shock closure of the Kirkcaldy 15:17 store.
The owner of the High Street building leased by the firm is exploring options that could see the shop reopen without 15:17’s involvement.
Tahir Ali, of Yorkshire-based Evergold Property, bought the former Debenhams building last year, weeks after 15 :17 directors signed the lease.
And he said the writing was on the wall for the company from day one.
“It was an untenable situation with them,” he said.
“They didn’t have the money to maintain the fire alarms or the lifts.
“Things were going wrong and I was picking up the bills.
“On top of that, staff haven’t been paid and businesses are due money.”
15:17 stores in Ayr and Worthing have suffered the same fate as the Kirkcaldy shop and Mr Ali said traders were very worried.
Giving reassurance
15:17 closed suddenly this week, just five weeks after opening.
The company allows small businesses to open a concession in-store and charges rent or commission.
Traders say all sales went through 15:17’s tills and they haven’t seen a penny.
One of those affected is Kelly Brown of Rock N Rose Aromas, who is due around £1,000.
Others affected include Gemma Lumsden of crystal gift shop Something Magick and Katie Lockwood of children’s clothing firm Little Lord and Lady.
Mr Ali, who also owns The Kirkcaldy Centre (formerly The Postings) and the town’s New Look building, said the situation was unfortunate.
“Unfortunately for me, I inherited them,” he said.
The businessman travelled from his home in Yorkshire to Kirkcaldy at the weekend when it became apparent the store would close.
And he’s now trying to help businesses affected by the collapse.
“The stock is all in there and I’ve been speaking to traders one-to-one to give reassurance,” he said.
“They don’t have to worry about their stuff. It’s going to be safe.
“And that will give us time to try to turn things around and come up with some kind of plan.”
Mr Ali said the 15:17 model seemed good in theory but had failed to deliver.
“I was impressed to start with,” he said.
“On the face of it it was a fantastic opportunity for smaller traders to come into a department store environment with a more quality feel, rather than a market.
“It’s just very unfortunate this has happened in the run up to Christmas.”
High expectations
15:17’s arrival was hailed as positive news for Kirkcaldy High Street, which has suffered a number of high-profile closures over the years.
But Kirkcaldy Labour councillor Neil Crooks is disappointed that people have been let down.
“There were high expectations and a lot of traders thought it would be an opportunity for them,” he said.
“I’m glad to hear Mr Ali doesn’t intend to just shut the doors and is looking at other opportunities for the building.
“I wish him all the luck in the world.”
15:17 has so far opened seven UK stores after buying up former Debenhams, House of Fraser and BHS sites.
And three have already closed, leaving a trail of debts.
15:17 did not respond to a request for comment.