With so many announcements of companies entering administration, it has been a tough job keeping up with them all. But do you know how many retail commercial properties have gone into administration this year alone? To help you, MOVEHUT has compiled a breakdown of the nine companies which have folded this year.
January was a busy month for companies going bust. It is a particularly tough time straight after Christmas, especially if Christmas trading was weaker than expected.
On the 6th January, Blacks Leisure – the outdoor clothing and equipment specialists which owns both Blacks and Millets commercial properties – collapsed. The company was bought by JD Sports and saved 226 of the 306 commercial properties, all of which remain open to this day.
Also during this month, on the 9th January, La Senza, the underwear specialist, went into administration, putting 2,600 jobs at risk and causing 146 store closures. But the company was offered a lifeline when Alshaya bought part of the company, which saved 1000 jobs and 60 commercial properties.
Past Times went into administration on the 16th January. No buyer was found, which meant that 574 jobs were lost when 46 commercial properties closed their doors for good.
Also on that day, Peacocks went into administration, but were saved when Edinburgh Woollen Mill bought the company in February. This move helped secure the jobs of around 7,000 people, but unfortunately over 3,000 people lost their job as the company decided to close nearly 200 of the 550 commercial properties.
Finally in January, on the 19th, children’s clothing chain Pumpkin Patch closed its doors for good when no buyer was found. 400 people lost their jobs and 36 stores were closed.
February was a quiet month in terms of administrations, but March saw the demise of three well known brands, with one in particular standing out. Fenn Wright Manson – the fashion chain – went into administration on 6th March. No buyer was found, which meant the inevitable would happen to the 17 commercial properties and 350 employees.
Also that month, on 16th March, Firetrap, a well known clothing brand for the younger generation, collapsed. Many commercial properties closed, but the brand was bought by Sports Direct.
Perhaps the biggest shock of all was the announcement that GAME had entered administration on the 26th March. However, the group, which also owns Gamestation, was bought by OpCapita, under the Baker Acquisitions Limited. The company saved 333 out of the 600 commercial properties that operated and safeguarded the jobs for over half of the 6,000 people that were employed.
April was a pretty quiet month for retail closures, with only one chain going under. On the 2nd April, Ellie Louise, which sold women’s clothes at affordable prices, collapsed. No buyer for the company was found, forcing the 97 commercial properties to close for good and 400 employees that worked there to look for alternative employment.
So far in May, we saw one of the biggest shocks to happen to the high street in a long time. Clinton Cards entered administration on the 9th May. Talks are still underway to determine the future of the 767 commercial properties and 8,000 members of staff – but we can only hope that a buyer for this UK high street treasure is found soon.
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