Magnet's Stirling store is closing: what to do if you've paid a deposit

On 20 July 2026, Magnet's company voluntary arrangement (CVA) was approved by more than 90% of its voting creditors, clearing the way for the retailer to close 15 stores across the UK. Stirling is the only Scottish branch on that list, and it sits right in the middle of the area we serve here at HIS Design Ltd. If you have paid a deposit towards a Magnet kitchen, it is understandable to feel uneasy. Here is a clear, calm explanation of what a store closure means for you, and the practical steps you can take to protect your money.

What a CVA actually means

A company voluntary arrangement is a formal agreement between a struggling company and the people it owes money to. It lets the business keep trading whilst it reorganises, rather than going straight into administration. In Magnet's case, the arrangement was backed by the large majority of creditors and involves closing a number of underperforming stores, including Stirling. Importantly, the wider Magnet business continues to trade, so an existing order is not automatically cancelled. That said, if you have money tied up in a deposit, it is worth acting sooner rather than later.

If you've paid a deposit

Try not to panic, but do get organised. A few sensible steps:

• Gather your paperwork - order confirmation, receipts, and any emails confirming what you paid and when.
• Confirm your order status - contact the store or Magnet customer service to check where your order stands and your expected fit date.
• Check how you paid. If you used a credit card and the order was over £100, you may be protected under Section 75 of the Consumer Credit Act, which makes your card provider jointly liable.
• If you paid by debit card, ask your bank about the chargeback scheme, which can sometimes recover funds for goods or services you do not receive.
• Keep written records of every conversation, including names and dates.

We are a kitchen company, not a legal service, so for advice tailored to your situation we would always point you towards Citizens Advice Scotland, who deal with exactly these cases.

Why local matters when a chain wobbles

News like this is a reminder of the difference between a national chain and a local, family-run firm. HIS Design Ltd has been fitting kitchens across Perth, Kinross, Dundee, Fife, Stirling and Tayside for over 30 years. When you deal with us, you deal with the same people from your first consultation to the final fit, and we are not going anywhere. If your Magnet project has stalled, we are happy to talk through your options, whether that is a brand-new fitted kitchen or a cost-effective refacing of the one you already have.

Talk to us

If the Stirling closure has left your kitchen plans in limbo, get in touch with the team at HIS Design Ltd. We will give you honest, practical advice with no pressure. Call us on 01738 550022 or email mark@hisdesignltd.co.uk to arrange your free consultation.