Ailing retailers buckle under rent blow

  • @Thompj

Two more retailers were on the brink of administration last night, putting thousands of jobs at risk after yesterday's third-quarter rent day forced them to throw in the towel.

Fashion chain Internacionale, which has 150 shops, is set to call in accountant Ernst & Young as early as today, while the 50-store toy retailer ModelZone is set to hire Deloitte.

These developments came after furniture chain Dwell confirmed yesterday it had called in administrators after it ceased trading last week.

Many retailers have moved on to monthly rents, but the quarterly rent-day always hits struggling chains.