Wed, 25 Jun 2014 | ADMINISTRATION
Women’s fashion clothing seller Jane Norman has put its 24 stores into administration, marking the retailer’s second spell in insolvency within three years.
Alistair Wardell, Les Ross and David Riley from Grant Thornton were drafted in as the joint administrators to the troubled business yesterday (24 June).
Jane Norman is to operate its online and international concession stores as normal and will endeavour to keep its high street shops open for as long as possible before a close-down, affecting 157 jobs.
Administrator Mr Ross said: “We intend to continue trading the stores for as long as possible with a view to achieving the best outcome for all concerned, in particular those people based in the stores. It is likely, however, that store closures are inevitable.”
A spokesman for Jane Norman added: “Like many retailers, we have seen extremely challenging conditions on the high street for several years in what is a very competitive sector in young fashion.”
Retailer and owner of Peacocks, another fashion brand, Edinburgh Woollen Mill purchased a third of the fashion chain in a 2011 pre-pack arrangement from Jane Norman’s previous administrators at Zolfo Cooper.
Edinburgh Woollen Mill cited being unable to support the 24 under-performing stores in the UK and Ireland as the reason for the push into administration.
______________________________________________________________________
Related information:
Contact the administrators
Jane Norman fashion retailer in administration
Bring to the market this leasehold specialist car sales and servicing facility located in Horncastle, Lincolnshire. The trade was established as a limited company in 2005.
LEASEHOLD
The company is an online vehicle purchasing platform, providing a fast, hassle-free car-selling service for the end user. A competitor to the likes of webuyanycar.com and Motorway, the company is a well-established online vehicle purchasing platform...
Bringing to the market this denim and casual wear retailer, boating a user friendly comprehensive online presence.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.