Festive season brings retail administrations

The collapse of the concession business of Barratts and Priceless leaves over 1600 staff redundant.

Administrator Deloitte, which was appointed in early December, is still in active discussions to rescue its stores business.

Barratts is one of many retailers which futures hang in the balance. Lingerie retailer La Senza has said it is to close 81 of its 146 stores after announcing before Christmas that it was to go into administration.

The chain, which was previously owned by Dragon’s Den entrepreneur Theo Paphitis before it was sold to private equity owners Lion Capital in 2006, filed a notice of its intention to appoint an administrator before Christmas, with KPMG expected to formally be appointed administrator next week.

An announcement on the La Senza website states that “many stores are closing down” and lists the details of the affected 81 stores, including Exeter, Cambridge, Newcastle and Wimbledon.

It is thought that around 2,600 jobs could go as a result of the store closures.

The Tobar Group, owner of Hawkins Bazaar, also fell into administration post Christmas. Administrator Zolfo Cooper closed 40 permanent stores and six concessions on Friday, axing 337 jobs. It is looking for a buyer for its remaining 25 stores and has attracted a number of expressions of interest according to joint administrator Peter Saville.

Gifts retailer Past Times, owned by Epic Private Equity, is also on the brink of collapse. The 100 store chain has lined up KPMG after filing an intention to appoint an administrator.  

Young fashion retailer D2 also hit the buffers pre-Christmas, closing 19 stores and making 200 staff redundant.

The 47-store retailer, set up by Sir Tom Hunter, has closed 19 stores – shedding 200 jobs – but is looking for a buyer of its remaining stores. BDO has been appointed as administrator.