D2, the clothing and footwear retailer, has become the first big casualty of the post-Christmas trading period, putting more than 1,000 jobs at risk.
The chain – which was sold by the billionaire Sir Tom Hunter in January 2008 to a management buy-out team – appointed the accountancy firm BDO as administrator this morning, The Independent can reveal.
D2, which has 76 stores in the UK and 3 in Dublin, has become a victim of the tough trading climate and the withdrawal of credit insurance for its suppliers.
BDO said it "regrettably" made 22 redundancies at the retailer’s head office in Dundonald, Ayrshire, and closed two of its three stores in Dublin, Ireland, resulting in the loss of a further 39 jobs.
The accountancy firm will continue to trade the remaining 77 stores and seek a buyer as a going concern.Reuse content