Fashion and homewares retailer Joy has fallen into administration.
Maureen O’Brien, which trades as Joy, has 28 stores across the UK and employs 370 staff.
Insolvency practitioners Paul Appleton and Asher Miller from accountancy firm David Rubin & Partners were appointed on Friday to manage the administration.
The administrators are reviewing the financial position of the company and are negotiating the sale of the business. They are seeking to preserve the maximum number of jobs and ensure the best possible outcome for the company’s creditors.
The retailer is the latest in a glut of high street casualties that have suffered in the credit crunch. Footwear retailer Faith was sold in a pre-pack deal earlier this month and on Friday, home furnishings retailer Rosebys hit the buffers.
4 Readers' comments