Business to continue trading as a going concern
Owen Owen, the independent department store group owned by the former finance director of MK One, has gone into administration.

The business, which operates Lewis's department store in Liverpool, Esslemont & Macintosh in Aberdeen, Robbs in Hexham and Jopling's in Sunderland, blamed cash flow difficulties and said it had experienced challenging retailing conditions over a sustained period.

David Thompson became the sole owner of the Owen Owen business after he bought out Sir Philip Green and former MK One buying director Elaine MacPherson in 2004. He added Robbs and Jopling's to the group after buying them from Merchant Retail in 2005.

Thompson said: 'I would like to reassure customers that it is business as usual for the stores. I am proud of the company's heritage and the long-standing support that it has enjoyed for more than100 years. I ask that customers continue to support the company during this challenging time to ensure that this iconic business will continue in the future and preserve its local heritage.'

Philip Duffy, partner of administrator Kroll added: 'We are continuing to trade the business as a going concern while we evaluate options. These department stores are strong local brands and we are therefore hopeful of securing the future of the businesses.'

Topics