D2 jeans store ‘to stay open’ while buyer is sought
THE D2 jeans store in High Street Mall is to remain trading, while a buyer is sought for the business, a statement from the administrators confirmed this week.
A spokesperson for joint administrators BDO LLP said that the Portadown store had closed for a 48-hour stock take, which began on Tuesday, but would reopen afterwards.
The Portadown store is one of 28 shops which the administrators intend to continue trading, with a view to securing a sale of all or part of the company as a going concern.
Last week it was announced that the clothing retailer, which owned 47 stores in the UK, was to close 19 of them, with the loss of some 200 jobs.
In Northern Ireland, the nine stores which have closed are at the Kennedy Centre, Belfast; Omagh; Bangor Bloomfield; Lisburn; Castle Lane, Belfast; Cityside, Belfast; Bangor Flagship; Connswater, Belfast and Newry.
James Stephen, business restructuring partner of BDO LLP, 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 company, and will continue to trade the business whilst this is explored.”
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Weather for Portadown
Wednesday 22 May 2013
Today
Cloudy
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