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Stylo , owners of Stylo Shoes, Barratts Shoes and Priceless that employs 5, staff and more than one thousand stores, went into administration in February. Attempts to reach agreement with landlords that would have allowed all stores to continue trading albeit at lower rents failed. The new owner Ziff etc has bought stores and concessions from the failed group, preserving jobs but losing JJB Sports , the sportswear company that has suffered a number of financial problems including forgetting to tell its bankers it was about to breach its banking covenants has now appointed administrators for its lifestyle division, Qube 13 stores and Original Shoe Company 64 stores.
It also hopes to sell its fitness clubs. Its main source of funds, the national bank Landsbanki now under Government control , had refused further support. The UK chains continue to trade and are not themselves vulnerable, although new owners will be sought. Blooming Marvellous , the store chain of maternity wear and accessories outlets owned by the Icelandic investment group Kcaj managed by Arev , went into administration in January Kcaj has already pulled the plug on Hardie Amies and Ghost.
ProCook , the kitchenwear chain that went bust last year and was resurrected by new owners, is to close its high street stores to concentrate upon its internet operation. Stylo subsidiaries trading as Barratts and Priceless shoe stores went into administration along with their property company in January, although Stylo PLC continues to function.
There are stores and 5, employees. Sales had plunged on the back of the drop in house sales. The remaining 20 stores and HO are to close. Sofa Workshop had been sold to MFI in It was then bought by New Heights, which itself collapsed.
MFI has also gone. It operated mainly online, but had 14 stores of which one-half closed immediately. Half of the staff have been sacked. Land of Leather , the furniture chain with outlets and employees, went into administration on 12 January It had looked for a purchaser in December, but pulled out as the offers were too low. Viyella , the store fashion retailer originally founded in , went into administration on 8 Jan There were employees working in 41 standalone stores and 63 concessions in stores such as HoF and Fenwick.
The company's name and 50 stores staff was bought by Austin Reed to join Country Casuals in February. Nearby Stores , the convenience chain that ran 33 stores and 17 post offices in the South West under the NISA format, went into administration. It started a fire sale immediately and was sold off in sections, 13 stores going to Southern Coop.
It has ceased trading although a buyer for the business is being sought. Adams Clothing , the Nuneaton-based childrenswear retailer employing around 3, people, went into administration on 31 December. It had been bought up by John Shannon formerly Stead and Simpson a couple of years earlier, at the end of several weakish years of trading, who bought it out of administration again in Feb A total of outlets and jobs have gone.
Olan Mills , the studio photographer mainly baby and family portraits with 34 stores, went into administration on 26 Dec. Half its stores were in Mothercare stores. All staff have lost their jobs. The group was rescued by a management buy-out a couple of years ago.
USC , the store branded casualwear fashion chain 1, staff backed by Sir Tom Hunter, went into pre-pack administration on 29th December. Hunter's investment vehicle, West Coast Capital, immediately bought 43 stores 1, employees out of administration, the remaining 15 stores are to close. Zavvi , formerly Virgin Megastore selling games, DVDs and music from outlets, went into administration in December, losing 3, jobs.
Like other high-street traders, its sales had been weak, it was adversely affected by internet downloads, and suffered from the failure of Woolworths' EUK its wholesale supplier of new releases a few weeks previously.
Around 14 stores were bought by HMV, a few by other entertainment retailers, and around 5 by a management buy-out. The company Zaavi has now disappeared. The Officers Club went into administration in December, 32 of its stores being closed immediately and the remainder being acquired from the administration by TimeC involving the chief executive.
The new group will employ people. Whittard's of Chelsea , the Centre for Retail Research's exclusive supplier of high-quality tea, went into administration on 23 December to be immediately bought by the Epic Group. There are stores and employees. Trading has been weak recently but the main problem was the fact it was owned by Baugur and backed by Landsbanki, the collapsed Icelandic bank, making it another victim of the credit crisis. Whittard continues to trade, but it is likely that Epic will consolidate Whittards with Past Times, another brand it owns.
Envy , the store menswear retailer, called in the administrators for the second time in Max Spielmann and Klick photo-processing shops went into administration in late Nov and were bought by the Timpson shoe repair chain, saving jobs.
The previous owners of the group, Bowie Castlebank, had closed its dry cleaning operation and another photo-processing outlets will close an overall loss of 1, jobs. MFI ceased trading altogether a few days before Christmas, closing stores and staff losing their jobs. Strategic Retail placed three subsidiaries into administration in mid-December and suspended their shares "pending clarification of the company's financial position.
Allegra Hicks , swish women's fashion brand sold online, in a London store and in Harrods and Harvey Nichols, went into admin in Nov and was bought one week later by A H Lifestyle and continues to trade. Fabric Warehouse , curtains and soft furnishings with 31 stores, collapsed in May. Since then it has been has been rapidly run down, with complaints of staff ill-treatment staff sacked by email etc and an illiberal policy about what could be stocked.
The owners attempted to close down the UK chain in by applying for personal bankruptcy in the US courts. Their bankruptcy motion was Dismissed With Prejudice i. It is difficult to know how many stores are still left operating or what is the position regarding liabilities, back pay, legal liabilities, etc. The Pier , the rather strange and exotic homewares company with 31 stores and 17 concessions, went into Admin in the first days of December. It employs with 57 at the HO, Abingdon.
Icelandic owner Langerinn attempted to revamp the business and senior people left earlier this year. The stores closed by the New Year. The first FW Woolworth store was set up in Liverpool years ago. The company's heyday was the period In the s, its more successful store managers were so prosperous they could drive Rolls Royces.
They set about improving the Woolworth business and buying new retail chains such as Superdrug and Comet and, as the Kingfisher Group, had become stock-exchange darlings by the late 80s. The new business was split up and Woolworths was unable to find a role for itself. Its attempt to run a mixed economy internet operation failed and the product areas in stores lacked authority - which is to say that whilst you might go into Woolworths to find something, you would not try them first.
Its suppliers lost their indemnity insurance cover for Woolworths and the company ran out to cash. But it is still a terrible shock - and terrible for people who work there and their suppliers. MFI , back in administration again in November, immediately closing 26 of its stores.
MK One , the budget fashion chain, went into administration once more in Nov Mark Brafman, the original founder who had bought it from Hilco, left the chain in Oct and the new owner, Bali Singh, was attempting to reorganise the business when an unpaid supplier kicked it into touch.
A week later, 85 of its stores jobs were bought by Internacionale Retail. The Head Office will be closed. Celebrations Holdings, the owner of store chains 1, staff , such as Card Warehouse and Cardfair went into administration in October. It continues to trade as normal over Christmas, most stores being closed in January , although 75 stores were bought by Card Factory in December. Hardy Amies, couturier high fashion and once dressmaker to the Queen with 6 stores, went into receivership in October.
It had asked its major backer, Arev linked to Icelandic private equity fund Kcaj for extra cash. Miss Sixty business name, Sixty UK , the youth-oriented fashion trade with 12 stores and other concessions, went into administration in October.
Joy , a medium-sized fashion and homewares chain company name, Maureen O'Brien , with 28 stores and employees called in the receivers on the last day of September The management of MFI , the bathroom and home furnishings group with 2, staff and stores, arranged a buy-out in September, did some reorganisation and put the retail and property divisions into administration at the beginning of October. Motor World, the store chain of car-parts and accessories, fell into administration following a "significant" downturn in retail sales.
Glasgow Auchinlea Flannels Head Office - Shirebrook, Mansfield. Allocations Analyst Sports Direct Since our launch back in we have taken the sp The Centre has analysed the main retail failures in the period since the recession.
There are 32, with 12, stores affected and , employees. Woolworths was the biggest casualty in this period with stores and 30, staff, BHS was the second largest in terms of stores and House of Fraser the second largest in terms of staff. These figures are based on the CRR's own research over this period. Further details can be downloaded here. Some of these companies recovered and came out of administration; some were bought by other businesses; some were sold as going concerns but changed their name; for some, the name was bought and this is still used, but under different ownership; and others ceased to exist.
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