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Ossian Retail Group - Company sale
14/04/2008
Scotland-based Ossian Retail Group is expected to enter administration within the next few weeks. Recently Ossian debt owner Agilo announced it had appointed PricewaterhouseCoopers as administrator, to begin within ten days. Agilo acquired the £25m debts of the company last week and expects that most of Ossian's 2,500 employees will be able to remain in their jobs.At least ten groups have shown an interest in purchasing portions of the Ossian operations. UK-based budget retailer Bon Marche, Edinburgh Woollen Mill and the high-street bargain group Poundstretcher, are among these. Agilo has already disposed of 30 Ossian outlets to Blackpool retail company B&M Bargains.

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