Thu, 29 Dec 2011 | ADMINISTRATION
Administrators are seeking a buyer or buyers for 28 branches of the D2 Jeans high street chain, after it collapsed into administration and became one of the first post-Christmas retail casualties.
The firm, which is based in Dundonald, Ayrshire, called in administrators from BDO LLP to handle the process. Joint administrator, James Stephen, said they immediately shut 19 stores, but are running 28 further branches as a going concern and are hoping to sell them on.
"It is unfortunate that the economic climate and extremely difficult trading conditions have significantly affected the retail sector, " Stephen explained. "However, we are hopeful of securing a sale of all or part of the business and will continue to trade the business while this is explored."
The business, which was founded by Scottish entrepreneur Sir Tom Hunter, entered administration two years ago. On that occasion it was saved through a number of deals, including a management buyout that picked up around 40 of its stores and saved about 500 jobs.
A BDO spokesman said they could not confirm which of the stores had been closed due to this latest administration, but it is thought that branches throughout the UK – including Northern Ireland – could be affected.
Once a thriving online garden centre started in 2018, after an internal dispute the business stopped trading in 2022. In a space of just 3 years the business achieved £500k in turnover. This is a perfect opportunity for someone looking for a new...
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.