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Optical Express to close 40 stores after administration 3 October 2012

A subsidiary of Optical Express Group has entered administration and insolvency firm PKF has been appointed to handle the case.

Bryan Jackson and Anne Buchanan of the accountancy firm will handle the affairs of the collapsed subsidiary which had 80 operational stores at the time of its decent into administration.

It is understood that 40 of these stores will now close and 40 will be transferred to the parent group company.

There will be no job losses as a result of the administration and all 750 staff will be transferred under the Transfer of Undertakings Protection of Employment (TUPE) regulations.

All patient contracts and pre-paid agreements for surgery will completed as normal.

Administrator Bryan Jackson said: “The decision to close these stores has been taken reluctantly by the owner and management of the Optical Express Group.

“Like the retail sector, it has been adversely affected by difficult trading conditions, a reduction in consumer confidence, and the negative impact of the subdued economy.

“The decision to close one part of the group is intended to support and strengthen the remainder of the company and ensure it can operate successfully in the future.”

 

 

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