I have this macro which is aimed to close a series of workbooks which may or
may not be open. it works perfectly when all the workbooks detailed are open
but tends to get periodically stuck if some of them are shut (although if I
keep running the macro eventually everything will close down. When I debug it
says

"Run time error €˜9
Subscript out of range"

is there anyway to get this macro running smoothly as it is really
frustrating that is isn't working completely the first time.

Sub SaveAndCloseWorkbooks()

Dim wbtest As Workbook

On Error Resume Next
Set wbtest = Workbooks("Bund Current Payoff.xls")
On Error GoTo 0
If Not wbtest Is Nothing Then Workbooks("Bund Current Payoff.xls").Close
SaveChanges:=True

On Error Resume Next
Set wbtest = Workbooks("Gilt Current Payoff.xls")
On Error GoTo 0
If Not wbtest Is Nothing Then Workbooks("Gilt Current Payoff.xls").Close
SaveChanges:=True

etc and so forth for 9 more workbooks

End sub