Tue, 03 Jul 2012 | ADMINISTRATION
Health food retailer Julian Graves has appointed administrators from Deloitte to take stock of its financial position.
The business is keen to avoid job losses where possible, but it is feared that several hundred employees could lose their positions at the business, which is the sister company of Holland & Barrett.
Chris Farringdon, joint administrator from Deloitte, commented: “The first priority of the joint administrators is to assess the financial position of the company and consider the options available.
“It is the joint administrators’ intention, therefore, to continue to trade the business whilst these options are explored. Accordingly, no redundancies are currently proposed and all employees’ wages will be met and paid as normal.”
The administration of the business has not come as a huge surprise to those in the industry as the sector has seen competition mount over the past few years. Other health food stores have opened, while supermarkets have expanded their own ranges and online businesses, such as Amazon, have been able to offer a wider range of supplements.
Jonathan De Mello, head of retail consultancy CBRE, told the Retail Gazette that there are all sorts of new competitors “muscling in on what was traditionally a space occupied by Julian Graves and a handful of others”.
This unique and renowned freehold bar and restaurant in the heart of York City Centre offers over 250 covers across its spacious interior, pavement seating, and a rare rooftop terrace.
FREEHOLD
A well established and strongly profitable engineering business, located in the Midlands. The company will be an attractive acquisition for both a larger trade buyer and also those looking for a stable engineering business.
This European pharmacy manufacturer specialises in providing custom clinical trial batches for leading pharmacy companies across the continent, playing a crucial role in their R&D efforts.
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.