The closing shop chains thread...

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Re: [Renamed] The closing shop chains thread...

Postby dutchman » Mon Nov 11, 2013 2:49 pm

Barratts Shoes collapses into administration - putting 1,035 jobs at risk

More than 1,000 jobs are at risk after Barratts Shoes collapsed into administration – for the third time in four years.

Directors said they were left with no choice after an investor pulled out of a plan to inject £5 million at the end of last week into the at Bradford-based chain, which was seeking to shore up its finances.

According to a statement, Philip Duffy and David Whitehouse of financial advisory and investment banking firm Duff & Phelps were appointed administrators on Friday afternoon.

The administrators said they were reviewing the company’s financial position and seeking a sale of the business as a going concern but said: “At this stage redundancies and/or store closures cannot be ruled out.”

Barratts Shoes operates from 75 stores and 23 concessions across the UK and Ireland, employing 1,035 people, of whom 521 are part time, the statement said.

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Re: [Renamed] The closing shop chains thread...

Postby dutchman » Wed Nov 20, 2013 9:47 pm

Tie Rack set to close city store as retail chain axes UK shops

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Up to 200 jobs could be axed after it was revealed retail chain Tie Rack is preparing to close its UK-based stores.

All 44 shops across the country are being shut – including its base in Coventry’s West Orchards Shopping Centre, Leamington’s Royal Priors and its Stratford-based store in the High Street.

A closing-down sale is expected to start today, with all shops set to close by the end of the year.

Tie Rack once had shops in 31 countries, including America, Spain and Canada. Ties now account for only 20 per cent of its sales.

Accountancy firm Grant Thornton is believed to have been asked to canvas prospective buyers of the overseas shops.

Also negotiations are under way with British airport operators about retaining Tie Rack’s presence within some of them.

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Re: [Renamed] The closing shop chains thread...

Postby dutchman » Tue Dec 03, 2013 6:46 pm

Osbornes Stationers goes into administration

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A 200-year-old high street chain has gone into administration, putting 140 jobs at risk.

Staff at Osbornes Stationers, which is based in Birmingham and has 20 branches across the Midlands and South West, were told on Tuesday.

Restructuring firm FRP Advisory was appointed as administrator on Monday.

Directors at the stationers said the business had been suffering since the start of the economic downturn in 2008.

Steve Stokes, partner at FRP Advisory and joint administrator, said: "Despite the continuing support of a loyal customer base, anticipated cash flow problems have prompted the need for the directors to seek the protection of administration whilst the business is restructured and marketed for sale."

Osbornes was founded as a printing business in Birmingham city centre in 1832 by Edward Corn Osborne.

The company has seven stores in Birmingham, three in Warwickshire, three in Nottinghamshire, three in Leicestershire and single shops in Bristol, Tewkesbury, Worcester and Daventry.

:bbc_news:
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Re: [Renamed] The closing shop chains thread...

Postby dutchman » Fri Dec 06, 2013 4:37 pm

Blockbuster staff in Coventry and Rugby face losing jobs on eve of Christmas

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Staff at Blockbuster in Coventry and Rugby face losing their jobs on the eve of Christmas.

The movie and games rental chain has announced that it will close 62 shops in the next few days after being placed in administration last month.

Although the stores in Tile Hill Lane, Coventry, and Clifton Road, Rugby, are not in the immediate firing line, administrators Moorfields Corporate Recovery have revealed that no buyer is expected to be found for the remaining 91 stores – which could see them close by the end of the year.

A total of 427 jobs are definitely being axed with that number rising to around 1,200 if every remaining Blockbuster closes its doors.

The retailer originally collapsed at the start of 2013 before private equity group Gordon Brothers Europe stepped in to take on some of the branches.

But the new owners said the chain had continued to suffer from poor trading and it was placed in administration last month. A statement from joint administrators Simon Thomas and Nick O’Reilly, of Moorfields Corporate Recovery, said: “We are announcing the closure of a further 62 stores across the United Kingdom and a further 427 jobs as part of the effective phased closure as announced on November 28.

“Unfortunately we have still not received any acceptable offers so as a result we may be forced to close the remaining 91 stores affecting 808 employees.”

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"Live by the sword, die by the sword."

Blockbuster put thousands of independent video libraries out-of-business.
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Re: [Renamed] The closing shop chains thread...

Postby dutchman » Wed Jan 01, 2014 6:25 pm

Osbornes Stationers closes three shops after going into administration

A 200-year-old high street stationery chain that went into administration last month has shut three stores and begun closing down sales at 14 others.

Administrators for Osbornes Stationers, which is based in Birmingham, said it had sold off two shops, saving 10 jobs.

The stores in Oadby in Leicestershire and Newark in Nottinghamshire had been bought by Paperweights Ltd, they said.

Shops in Solihull in Warwickshire and Arnold and Sherwood in Nottinghamshire have been closed down.

The firm, which was established in 1832, employed 140 people when it called in administrators, FRP Advisory, in December.

They have not confirmed how many jobs have been lost so far.

Steven Stokes, partner at FRP Advisory, said: "Unfortunately further closures are inevitable in the new year."

The company's remaining branches include seven in Birmingham, two in Warwickshire, two in Leicestershire and outlets in Bristol, Tewkesbury, Worcester and Daventry.

Ongoing discussions may result in the sale of one of its stores in the Birmingham area, administrators said.

:bbc_news:
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Re: [Renamed] The closing shop chains thread...

Postby dutchman » Mon Mar 31, 2014 1:39 pm

Forty jobs at risk as Homebase considers closing down Walsgrave store

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More than 40 jobs are at risk after a well-known DIY store revealed it was considering closing one of its branches in the city.

Bosses at Homebase have confirmed that the company is reviewing the possibility of closing its branch in Ansty Road, Walsgrave .

Consultation has already begun with the staff, all of whom could face losing their jobs in the next few weeks.

However, bosses at the firm have pledged to look at alternative employment for any affected staff.

It is understood the decision to consider closing the store has been taken as the company’s lease on the building is due to expire this summer.

A statement given to the Telegraph said: “Homebase can confirm that the business has entered a period of consultation concerning the proposed closure of our store in Walsgrave, Coventry, where the lease is due to expire.

“Colleagues at the store have been informed and we will be working with them to support them as much as possible.

“A decision will be made over the next few weeks and, if the store is closed, discussions will be held with colleagues to identify alternative employment opportunities within Homebase and our sister company Argos.

“Due to commercial sensitivities, we are unable to comment further at this time.”

The store has been operating in Ansty Road for more than 25 years and the company runs another store at Canley in the south of the city.

The news comes just days after Home Retail Group, which owns Homebase and Argos, announced it expected pre-tax profits for the year to be ahead of analysts’ forecasts of £107m at £111m.

The company has also been performing well on the stock market after share prices recently hit a near three-year high of 217p.

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Re: [Renamed] The closing shop chains thread...

Postby dutchman » Tue Jul 22, 2014 2:30 pm

Holbrooks retail store Floors-2-Go placed in administration for third time

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Retail specialist Floors-2-Go has been placed in administration for a third time.

The company, which has a base in the Holbrooks area of Coventry, has appointed Worcestershire-based administrators, MB Insolvency.

It is understood that attempts will be made to rescue the business as a going concern.

The Coventry store was closed yesterday and there was a sign on the door directing customers to a Birmingham telephone number.

But one local customer who attempted to dial the number said the line was constantly engaged.

Lynda Crowther of Woodway Lane, Walsgrave, now fears she has lost more than £3,000 after placing an order for wooden flooring late last year.

She said: “I am devastated. It is a lot of money for me to lose and I cannot get in touch with anyone to find out where my flooring is.

“I ordered and paid for the stock last year, but I wasn’t ready for them until now because I have had a lot of building work done.

“I just hate that nobody is telling me anything. It is all very upsetting.”

The firm is one of the biggest stockists of natural flooring and laminate products in the UK.

This is the third time the company has called in administrators.

The firm first fell into administration in 2008, when it was owned by private equity firm Alchemy Partners but was bought back the following year by the original founders of the chain, the Hodges family.

Then in 2011, bosses were forced to call in administrators for a second time – resulting in around 200 job losses.

Some 53 stores were shut, but 35 shops – including the base in Kingswood Close – wwere bought by specially formed acquisition vehicle Nixon & Hope – saving 162 jobs.

The administrators refused to comment on the situation and nobody from the company could be reached for comment.

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Re: [Renamed] The closing shop chains thread...

Postby rebbonk » Tue Jul 22, 2014 3:05 pm

This is the third time the company has called in administrators.


Something very wrong here, and that would lead me to believe that the business will be sold for peanuts. I only hope any new owner has a radically different cost base or business plan, because what they're doing obviously isn't working!
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Re: [Renamed] The closing shop chains thread...

Postby dutchman » Mon Sep 15, 2014 12:53 am

Phones 4u enters administration, 550 stores to be closed

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Phones 4u has confirmed that it will enter into administration with PwC.

The news comes after one of its last remaining mobile operations partners EE cut ties with the retailer on Friday (September 12).

The company indicated in a press release today (September 14) that 550 Phones 4u standalone stores will close until a decision about its future is made by the new administrator.

More than 5,000 staff members will be briefed by management, although Phones 4u's private equity owner BC Partners has said that it is "intended that employees will continue to be paid until further notice".

Ongoing mobile contracts taken with the retailer will not be interrupted.

EE accounted for around half of the retailer's £1b sales, but cut ties after a strategic review, just as Vodafone and O2 had done earlier in the year.
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Re: [Renamed] The closing shop chains thread...

Postby dutchman » Mon Sep 15, 2014 6:45 pm

Nine Phones 4u stores in Coventry and Warwickshire shut as firm goes into administration

Nine Phones 4u stores across Coventry and Warwickshire were shut today after the company collapsed into administration.

Staff were told to turn up for work this morning - but their future looks bleak pending a decision by administrators from PwC on whether the business can be reopened for trading.

Phones 4u has four shops in Coventry - including a base in Market Way, the Arena Retail Park, Warwickshire Shopping Park and the Airport Retail Park.

There are another two stores in Rugby at the Clock Towers Shopping Centre and Junction One Retail Park, as well as a base at Nuneaton’s Ropewalk Shopping Centre. In Stratford, there is a shop in Bell Court and there is also a Phones 4u along The Parade in Leamington.

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