Acorn Pet Centres out of administration
Dec 2, 2009
A newspaper report has revealed that Acorn Pet Centres, the Scottish pet supplies business, has been bought out of administration after it emerged that two members of the controlling Mutter family sold stakes in the firm for £1m in total last March. The Fife-based retailer has been bought for an undisclosed sum by a team led by former managing director Douglas Mutter, 10 weeks after administrators from accountancy firm Tenon were appointed at the request of the directors. The buyout will result in the Acorn Pet Centres business being acquired by a new entity that will operate 24 stores under the Acorn brand across Scotland. These employ 153 staff in total. Another 11 stores were closed by the administrators following their appointment, with the loss of 73 jobs.
