300 jobs to go as Suits You closes

The menswear retailer Suits You will disappear from Britain's high streets after Christmas, resulting in 300 job losses.

Speciality Retail Group (SRG), which operated the 66-store chain, collapsed last month and the administrator Zolfo Cooper has decided the business has no future. Up to 10 shops will close before the end of this month but most will stay open over Christmas and close early in the new year. The closing-down sale will see big price cuts on designer brands such as Ted Baker.

GA Europe, which acquired SRG, will manage the closures. Fraser Gray, a partner at Zolfo Cooper, said: "We looked at trading the business in the longer term. However, this has not proved to be financially viable."