Retailer Joy felled by consumer gloom

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The Independent Online

Quirky fashion and homewares retailer Joy has collapsed into administration, becoming thelatest victim of grim high-street trading.

Maureen O'Brien Ltd., which trades as Joy, has 28 UK stores and employs 370 staff, who now face an uncertain future.

The retailer has appointed insolvency practitioners Paul Appleton and Asher Miller from accountancy firm David Rubin & Partners to handle the administration.

They are reviewing the company's financial position and are negotiating a sale of the business. They have said that they intend to preserve the maximum number of jobs and ensure the best possible outcome for the company's creditors.

Joy joins a long line of retailers which have hit the buffers this year, including discount bookseller The Works, value fashion retailer Ethel Austin and home furnishings retailer Rosebys, which collapsed last week.