The last store in a historic family retail chain earmarked for closure after the wider business was saved from administration is holding a final sale.

The joint administrators of the Wilkies retail chain have announced they have started a closing down sale at the store in Kirkcaldy.

While the Fife store is the fifth in the chain to close, six Wilkies stores remain open following the administration move.

The sale will initially see all goods discounted by 20%.

Any items previously discounted will see a further reduction of 20% off the discounted price. Stock available includes a wide range of ladieswear and menswear, as well as homewares and cookware.

Alistair McAlinden, head of Interpath Advisory in Scotland and joint administrator, said: “Since our appointment, trading at the Kirkcaldy store has been extremely positive, so we anticipate all remaining stock to sell quickly now that we have formally commenced this closing down sale.

“We’d like to thank Wilkies’ dedicated employees and its loyal customers for their tireless support since our appointment.”

Blair Nimmo and Alistair McAlinden from Interpath Advisory were appointed joint administrators to Wilkies Limited in June.

Immediately following their appointment, the joint administrators sold six Wilkies stores to a new company, Wilkies Trading Limited. Five stores were not included as part of the transaction, four of which closed with immediate effect.

The administrators have since continued to trade the store in Kirkcaldy store in order to sell the stock which was not sold as part of the transaction. Ten members of staff were retained by the administrators to assist with trading.

The six stores still open are in Largs, Castle Douglas, Peebles, Perth, Ballater and Helensburgh. Meanwhile, Edinburgh, North Berwick, Hamilton and Falkirk all closed straight away.

Including the Kirkcaldy staff, 40 will have lost their jobs.

Glasgow's 13th Note to close

A popular vegan cafe and concert venue in the heart of Glasgow’s Merchant City has announced it is to close.

The 13th Note’s owner said the bar and cafe have closed its doors for the last time, with liquidators being called in to wind-up the business after more than two decades. The venue has been embroiled in a row with the Unite union over health and safety issues and a pay dispute, with workers walking out on strike.

Inflation falls back by more than forecast

Inflation has eased by more than expected to its lowest level for 15 months in a sign that price rises may finally be slowing down.

The Office for National Statistics said Consumer Prices Index inflation was 7.9% in June, down from 8.7% in May and its lowest rate since March 2022. Most economists had expected the rate of inflation to fall to 8.2% in June.