More redundancies are looking increasingly likely at Land of Leather as administrator Deloitte has so far failed to find a buyer for the business as a going concern.

Deloitte told staff today that there is a risk of redundancies and store closures should a buyer not be found.

A source close to the situation said there is a “likelihood there will be a need to move to a second phase of closures” in the near future.

Deloitte partner and joint administrator Lee Manning said: “While it has not yet been possible to sell Land of Leather, we continue to talk to interested parties, and our goal remains to find a buyer for the business as a going concern. However, it is prudent to make contingency plans and we have notified all employees of the risk of redundancy and store closures should a buyer for the business not be found.

"We would like to reassure customers that we are still receiving goods from suppliers and our aim remains to fulfil as many existing orders as possible. Land of Leather will be speaking to or writing to all customers with outstanding orders with an update within the next week."

Deloitte has already closed 27 Land of Leather stores, with five more being wound down. There are 82 stores still open, employing 656 members of staff in total.

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