Thu, 29 Dec 2011 | ADMINISTRATION
Fashion clothing retailer D2 Jeans is leading the expected post-Christmas onslaught of high street failures.
Owned by Scotland-based A&J Menswear, D2 Jeans is still trading from 28 stores, with 19 having been closed and 200 jobs lost on entering administration.
A&J Menswear’s directors brought in BDO to act as the administrators for the business, which had suffered crippling trading conditions, which could be set to continue for the high street as a new warning has been issued that people will continue to cut back on non-essential purchases in 2012.
The firm previously went into administration two years ago, and its management subsequently rescued over 40 of the stores, with 500 jobs.
The administrators at BDO are working on identifying a buyer for parts or all of the business in an effort to save the remaining hundreds of jobs.
Established by Scottish entrepreneur Sir Tom Hunter, D2 Jeans runs stores across the UK and Ireland, and sells men’s and women’s fashion jeans, tops, jackets, and dresses.
Administrator James Stephen commented, “It is unfortunate that the economic climate and extremely difficult trading conditions have significantly affected the retail sector.”
“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.”
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