Troubled fashion retailer Store Twenty One has been issued with a winding up petition with a hearing slated for next Monday.

The petition was presented by commissioners for HMRC and the hearing will take place at the Royal Courts of Justice. The reason for the wind up is unclear. HMRC declined to comment.

Store Twenty One, which is owned by Indian manufacturing giant Alok Group, has been loss-making for the past eight years and last year sought rent reductions from landlords, warning that without it liquidation beckoned.

Debt collectors were understood to have been called by at least two landlords because of concerns about unpaid rent, it was reported in February last year.

Last year the retailer made a £17.9m pre-tax loss as sales dropped 6.2% to £93.2m.

Store Twenty One was unavailable for comment.

Topics