Richards of Aberdeen
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Richards of Aberdeen was a textile company based in the Hutcheon Street area of Aberdeen.
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[edit] History
With a history at the site stretching back 200 years, it was the last remaining textile mill in Aberdeen. It was also one of the principle employers in the city and more than 3000 people worked in the mill at its height in the early 20th century.
Founded over 200 years ago, Richards of Aberdeen became a public limited company in 1898. With the decline in traditional flax spinning activities, the company embarked - in the mid-1960's- on a programme of development of synthetic yarn ranges. By the dawn of the 21st century, the product range was very much the same.
[edit] 2004 Closure
The company was purchased by millionaire Ian Suttie, chief executive of First Oil, in 2002, after facing receivership. In 2003 the company moved its headquarters to the outskirts of Aberdeen, with assistance from Aberdeen City Council.
52 job losses were announced at the start of November 2004, despite the employment of 80 new staff in May of that year. Soon the entire remaining workforce, 196-strong, was made redundant. Many had been at the mill for their entire working lives. Workers were angered, not only by news of the closure itself, but by the way they discovered what had happened. Payments had simply stopped arriving in their bank accounts. Another indicator came when supplies ceased to arrive at the site. One of the main factors causing the closure, aside from global economic conditions, was the company pension scheme. By November 2004 it had amounted to a £5m shortfall. [1]
[edit] Post Closure
The pension scheme continues to cause problems for the mill's former employees, and there are calls to wind up the plan as soon as possible. [2]
[edit] Future Plans
The mill is currently under consideration for possible conversion into an 'urban village', much of which would made up of historical listed buildings which require careful planning considerations before any work can commence. The council remains undecided on the matter. [3]
