Former Rangers chief bidding to 'reset' Sterling group

The Herald Scotland

04-07-2025

Mr Robertson, who spent eight years at the Ibrox club, has been made permanent chief executive of the Sterling Furniture Group, after initially joining the company on an interim basis in November. Along with Sterling chairman Bernard Dunn, the former head of insurance broker TL Dallas who was appointed shortly before the former football club executive, the duo are tasked with turning around the fortunes of a historic business that has been affected by the downturn in the broader retail sector.
Shortly after taking charge, the new leadership team announced unspecified number of redundancies in February as they looked to 'reset' the cost base of the company, with accounts for the Tillicoultry-based company, lodged in June, showing that it tumbled to a loss of nearly £4 million for the year ended August 31. That followed a £43,870 profit the year before.
Speaking exclusively to The Herald last month, Mr Robertson reflected on the actions that have been taken since he joined. He said: 'It has been a case of really looking at what the business has needed, and we have re-set the cost base [to] make sure we have got really strong foundations to take the business forward in a sustainable way, but also in a way that is going to grow the business as well. There are still opportunities there for us [but], it needs to be considered growth, it needs to be careful growth.'
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A few changes are on the horizon, as we reported. The firm is investing in a new leather gallery at in Tillicoultry, which Mr Robertson hopes will help bring back the 'magic dust' to Sterling's flagship showroom that long-standing employees still recall.
'They'll tell you there was as a sprinkle of something special up here,' he said. 'It was always viewed as a destination, it was a day out, and you could get things here you could maybe only get in Harrods or really top stores down south.
'We need to get that sparkle back, we need to get the magic dust back in Tillicoultry.'
In another exclusive interview last month, Peter Gallanagh, the Glasgow-based chief executive of Azets, underlined the accountancy firm's plans expand across the UK by making further acquisitions. Mr Gallanagh said the firm has aspirations to strengthen its position in London, Birmingham, Manchester, the east of England, and parts of Scotland it is not currently present in. But he said the firm will be selective when it comes to targets.
Speaking in Azets' head office in Braehead, Mr Gallanagh said that Azets will only acquire firms that have the potential to enhance its offer or fill a 'geographical white space that we have, and it doesn't take a rocket scientist to see where we are looking at'.
He told The Herald: 'It is no longer about just buying businesses for the sake of buying businesses – it is ensuring that they are adding value to what we have and most importantly that their culture is aligned to ours. A lot of our time is spent now on the culture of the business before we acquire, which is really, really key.'
Elsewhere last month, I reported that Craneware, the Edinburgh-based company which provides revenue management software for the US healthcare sector, had rejected a takeover approach that would have valued it at nearly £1 billion.
Craneware, which was founded by chief executive Keith Neilson, dismissed a proposal from Bain Capital that valued it at £26.50 per share. Based on the number of Craneware shares in circulation, an offer of £26.50 per share would have valued the Scottish company at around £940 million.
The board of the Scottish company said it believes the proposal from Bain Capital 'fundamentally undervalues Craneware and its prospects'.
Craneware declared in the statement: 'The proposal was received without the parties entering into a due diligence process. The board is fully confident in the ongoing execution of Craneware's strategy and that its continued successful delivery will create significant value for shareholders.'
In other takeover news, we had the exclusive story on the sale of a major car leasing firm based in Glasgow. Fleet Alliance, which was established by chair Martin Brown with Allen and Marjory Flynn in 2002, was acquired by Global Vehicle Group for an undisclosed sum.
Further to the deal, Fleet will retain its name and continue to operate independently by the current management, led by chief executive Andy Bruce, the former boss of car dealer Lookers. The portfolio of companies under the GVG umbrella also includes Global Vans, XLCR and LCV Group.