MORE than a century of Scottish retail tradition will end when Watt Brothers’ flagship store on Glasgow’s Sauchiehall Street closes for the final time next week.

The retailer, which was established in 1915, will disappear from the high street when its last remaining store is shut on December 15.

The move follows the collapse of Watt Brothers into administration on October 18, after it succumbed to pressure on margins and the competition from online retailers amid the protracted downturn on the high street.

READ MORE: Watt Brothers latest: talks with interested parties continue

Watt Brothers’ ten leasehold stores immediately closed, resulting in 229 of it 306 staff being made redundant, with the Sauchiehall Street store remaining open in a bid to clear remaining stock.

Some 53 employees remain in post and will staff the store in its last days.

Administrators Blair Nimmo and Alistair McAlinden at KPMG said this morning that discounts of up to 70 per cent would be applied to stock this week, before the store closes a week on Sunday.

Mr Nimmo said: “A substantial amount of stock has now been cleared and the remaining staff members continue to work tirelessly to clear all remaining items, with discounts of up to 70% now in place.

“I want to thank the staff for their efforts in supporting this challenging process. 53 employees remain at the store and we’re working closely with Skills Development Scotland, via their PACE team, to support those who have been made redundant.”

The administrators said in October the retailer had been able to increase turnover year on year, with sales peaking at £24 million in 2018. However pressure on margins, sparked by the growth of online retailing and the broader downturn on the high street, dragged it into the red. An attempt to secure new investment proved to be unsuccessful.

Talks with parties interested in acquiring the business and its assets continue, the administrators said.