Fashion store East enters administration
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Fashion retailer East has entered administrations, with 314 employees at risk of losing their jobs.
Reports today said the brand closed 15 stores and five concessions stands in order to ‘off-load’ loss making shops.
A tough trading environment, which has seen a high street footfall slump, is one of the reasons behind East’s financial difficulties.
Geoff Rowley, one of administrators handling the case, said: “Unfortunately East is the latest high street casualty following a tough trading period at the end of last year.”
“The retailer was making progress to expand its footprint, particularly looking at international opportunities, however it has been unable to secure the necessary funding to realise those plans.”
