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91 redundancies at Internacionale 24 March 2014

Administrators from PwC have announced 91 redundancies at insolvent retailer Internacionale.

Internacionale UK Ltd entered administration earlier this month after a period of continued poor trading and increasing creditor pressure.

Prior to administration the company employed over 1,500 staff and operates 89 stores across the UK.

91 staff have now been made redundant at stores across England and Northern Ireland as administrators begin to close down some of the company’s stores.

Stores in Gateshead, Telford, Bangor, Denton, Crawley, Bradford, Maidstone and Mansfield are due to close this week.

Bruce Cartwright, joint administrator and partner at PwC, said: “Since appointment, the administrators of Internacionale have been assessing the viability of the company store portfolio.

“As a result of this ongoing review, the administrators have taken the difficult decision to close eight stores this week, which means that 91 staff working at these stores will be made redundant in due course.

“The PwC team is making every effort to assist staff at this difficult time. The administrators will provide further updates as developments occur.”

Internacionale narrowly escaped liquidation in July 2013, when the business and assets of the company were sold as a going concern to former chief executive Raj Sehgal, Naresh Abrol and William Milton.

Despite a turnaround plan affected in early 2014, including 90 redundancies, the economy remained flat and the company did not see anticipated levels of growth and recovery.

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