This site uses cookies; by continuing to use our site you agree to our use of cookies. More details in our privacy policy. Close

 

 

Jane Norman enters administration again 26 June 2014

High street fashion retailer Jane Norman has entered administration for the second time in three years.

Parent company Edinburgh Woollen Mill has confirmed it is to place 24 Jane Norman stores into administration but will continue to trade the brand online and in overseas department stores.

The company currently employs 157 staff, 57 of which are full-time, and redundancies are expected as the business is prepared for removal from UK high streets.

A statement issued by the company said: “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.

“While we have made every effort for a number of years to makes those stores work, that part of the business is no longer viable.”

Alistair Wardell, David Riley and Les Ross of Grant Thornton were appointed as joint administrators to the company on 24 June.

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.”

Jane Norman also entered administration in 2011, with debts of approximately £140m. The company was sold as part of a pre-pack deal, with Edinburg Woollen Mill acquiring 28 stores.

See also:

 

 

blog comments powered by Disqus