• Text size      
  • Send this article to a friend
  • Print this article

Glasgow's House of Sher calls in the receivers

A FAMOUS Scottish cash and carry business has become the latest casualty of the crisis hitting the retail market.

Ten people have lost their jobs at the House of Sher, whose giant headquarters is a landmark for motorists using the Kingston Bridge in Glasgow.

The business has been an anchor tenant of the Tradeston area for years, supplying DIY, hardware and furniture similar to Swedish company IKEA.

The cash and carry has suffered the knock-on effects of the high street's difficulties with internet trading over the past four or five years.

But a looming increase in rates, coupled with the opening of the nearby M74 extension, is understood to have badly impacted on trade, with access roads closed and associated disruption to visitors.

Ian Wright of debt recovery specialists WRI Associates said the firm was placed in administration at the request of its directors on January 15.

He said: "House of Sher is a well-regarded business in Glasgow and has been part of the retail fabric of the city for almost three decades. However, there have been historic issues regarding property transactions, and legal actions relating to a number of these transactions and the costs associated with these legal proceedings have resulted in a shortage of working capital.

"Following pressure from creditors, the directors have reluctantly had to take this step to place the company into administration."

House of Sher (UK Ltd) is linked to a collection of businesses under the Sher Brothers brand, also based in Tradeston. However, these are not affected by the administration. Imtiaz Sher, financial controller of Sher Brothers, said: "There are a couple of common directors but we are a totally separate company from the House of Sher."

Contextual targeting label: 
Business

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

136750