D2 jeans goes into administration
Thursday 29 December 2011
Store chain D2 Jeans has collapsed into administration, making 200 staff redundant and jeopardising hundreds more jobs.
Administrators closed 19 stores and laid off the shop workers as the Dundonald, Ayrshire-based firm became the first notable post-Christmas retail casualty.
The remaining 28 stores are being run as a going concern while administrators seek a buyer for parts or all of the business in the hope of saving the jobs of hundreds more employees.
BDO LLP administrator James Stephen said: "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."
It is the second time in two years that the chain, originally set up by Scottish entrepreneur Sir Tom Hunter, has gone into administration.
Last time, it was understood that around 500 jobs were saved as its management struck a deal to buy more than 40 of its stores out of administration. But around 32 stores - employing more than 300 staff - were not included in the rescue deal.
A spokeswoman for BDO said she was unable to say which of the firm's stores had been closed.
According to the company's website, which is no longer fully functioning, D2 operates stores across the UK. These include Sheffield, Redditch, Taunton, South Wirral, Bicester, Banbury, Rochdale, King's Lynn, Gloucester, Barnstaple, Penzance, Truro, Newquay and Cambridge in England.
In Scotland it has stores in Paisley, East Kilbride, Falkirk, Livingston, Coatbridge, Hamilton, Dunfermline, Glenrothes, Irvine, Ayr and four in Glasgow.
In Northern Ireland its outlets can be found in Enniskillen, Londonderry, Omagh, Newry, Lisburn, Portadown, Ballymena, Coleraine and Newtownabbey. There are two in Bangor and five in Belfast.
And in Wales, it has sites in Haverfordwest, Llanelli and Merthyr Tydfil.
There are fears that some big name retailers will collapse after Christmas when most will be hit with their quarterly rent bills.
High street lingerie chain La Senza, which has 146 stores and 18 concessions in the UK, announced last week that it plans to enter administration in coming days.
And Blacks Leisure, which owns 98 Blacks outlets and 208 Millets stores and employs 3,600 staff, faces speculation that it will go into administration in a move that would allow rivals to cherry-pick its best assets.
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
iJobs Money & Business
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...
$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...