Thu, 09 Sep 2010 | ADMINISTRATION
The Belfast-based designer clothing store Carter Clothing, has been placed into administration, with a possible sale being considered.
The store - which is owned by Dave Pennick, a former president of Belfast Chamber of Commerce - has branches on Upper Queen Street in the city centre and the Lisburn Road.
Despite administration being announced, the Queen Street shop remains open, but much of the stock had been reduced by up to 80 per cent as part of a sale event. The firm has announced that trading would continue as normal while all options - including a possible sale – were considered. Liz McKeown and Co, an insolvency practitioner, has been appointed as administrator.
A statement from the company said, “Like many retailers, Carter Clothing Limited has experienced a difficult trading environment during the last 18-34 months, which has been exacerbated by a further downturn and general tightening of the credit market.”
The Queen Street branch opened in 1984 and the Lisburn Road store in 2006, but each of the stores have faced strong competition from shops at Victoria Square over the last few years, particularly from House of Fraser and the Cruise designer label store.
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