Tayside Plumbing & Building Supplies incorporating Kitchen and Bathroom World bow out of Dundee
The directors of Tayside Plumbing & Building Supplies have announced their decision to close the 45-year-old company and wind the business up while it remains solvent.
Accountants MHA Henderson Loggie said the move comes after careful consideration and is a voluntary decision meaning all the creditors and staff will be paid.
In a statement, the firm said it has been operating at a loss for a number of years, latterly in difficult trading conditions.
MHA Henderson Loggie has been engaged to assist with the winding up.
Tayside Plumbing & Building Supplies was established in 1974 and at its peak employed 24 people although in the last few years that number has halved.
The business is based at Eagle Mills in Dundee where it has a retail showroom and extensive warehouse facilities.
The historic former jute mill was built in 1864 and extended in 1930 and will now be put up for sale.
As an important building in Dundee, its sale will offer the chance to breathe new life into the area. Consents to form apartments, a nursery and new business units in the East adjacent section of the building have been conditionally approved by local planners.
Shona Campbell of MHA Henderson Loggie said: “There have been significant changes in the UK plumbers and builders merchant market which is now dominated by new national brands.
“Market consolidation and competition from online retailers and home improvements chains have had an impact on the company, and the directors have taken the difficult decision to wind up the affairs of the company while it is still in a position to meet its obligations and pay in full what it owes staff and creditors.”