ADVERTISEMENT
Clothing & Shoes

Select calls in admins, 2,000 jobs at risk

Fashion retailer Select is preparing to call in administrators, putting 2,000 jobs at risk, it has been revealed.

According to Retail Week, Select filed a notice of intention to appoint an administrator to the high court on Wednesday. Quantuma, the advisory firm, has been lined up to handle the administration process, according to the report.

The notice also prevents creditors from calling in debts for 10 working days.

Select is owned by the Turkish entrepreneur Cafer Mahiroğlu and the news comes after it issued a Company Voluntary Arrangement (CVA) that allowed it to slash rents in its 183 stores last year.

Back to top button

Please disable your ad-blocker to continue

Ads are the primary way in which publishers generate the revenue needed to pay their staff. If we can't serve ads, we can't pay journalists to write the news.