Fashion retailer files for administration

Fri, 03 Jan 2020 | ADMINISTRATION



Fashion retailer Joy has filed notice of its intention to appoint administrators, with reports suggesting it has put KRE Corporate Recovery on standby.

The retailer sells clothes and jewellery, among other fashion products, and employs 182 staff across 10 stores, seven of these locations are in London, with one location each in Bristol, Leeds and Brighton.

The chain was founded by Joy Maureen Chadha, who bought 12 branches after a first insolvency in September 2008. Its website describes it as a "British fashion and lifestyle brand, renowned for vintage inspired womenswear, classic yet contemporary menswear, unique accessories and quirky gifts".

This administration comes just over two years after a 2017 administration, which was managed by KRE Corporate Recovery, in which there were 78 redundancies. In 2017, the chain was saved from collapse through a pre-pack deal with its founders.

Despite Joy’s administration, new KPMG figures have show that the high street saw fewer administrations in 2019 compared with 2018, with administrations declining 30 per cent overall.


Share this article



Latest Businesses for Sale

Eco-Friendly, Recyclable & Biodegradable Products Online Retailer
UK Wide

Has in excess of 2,100 subscribers, all of whom provide reliable, repeat business on an ongoing basis, in addition to a high volume of customers making one-off purchases. Operates from leasehold premises; however, the company could be relocated to a...

Asking Price: Offers Invited
Turnover: £1,067,787

RELOCATABLE


High End Sewing Machines Retailer
UK Wide

Flagship retail store specialising in the highest-end brand of sewing machines. Loyal and affluent clientele coming from all over the UK (and overseas). This business has been a leader in the field for 24 years. The sewing machine market is booming,...

Asking Price: £350,000
Turnover: £700,000

LEASEHOLD


Provider of Merchandise
UK Wide

A long-established provider of promotional merchandise both plain and branded for a high-calibre client base. Using a large network of suppliers the company boasts a vastly comprehensive range. Dedicated staff nurture client relationships and promote...

Asking Price: Offers Invited
Turnover: £5,000,000


View more businesses for sale

News Search

Latest News

 
10
 
Jul
 

Mobile phone supplier and recycler goes into administration | ADMINISTRATION

Mobile phone refurbishment company Redeem UK has gone into a...

 
09
 
Jul
 

John Lewis to close eight stores as COVID-19 accelerates shift to online | BUSINESS NEWS

Department store chain John Lewis has said that eight of its...

 
09
 
Jul
 

Chancellor cuts VAT on hospitality as part of £30 billion rescue plan | BUSINESS NEWS

Chancellor Rishi Sunak has announced a £30 billion pla...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
04
 
May
 

Family-owned Dorset motorcycle dealership enters administration | ADMINISTRATION

Dorset-based motorcycle dealership Three Cross Motorcycles h...

 
24
 
May
 

Women's fashion brand owner seeks sale, or risks administration | BUSINESS SALE

A women’s fashion label owner is on the hunt for a cas...

 
04
 
Mar
 

Online holiday site placed into liquidation | BUSINESS NEWS

A failed online holiday site has entered liquidation with &p...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources