About half of head office jobs have been slashed at fashion chain MK One after it was put into administration this week.
The job losses come just weeks after restructuring specialist Hilco bought the business from Icelandic investor Baugur.
Lee Manning of Deloitte was appointed as administrator on Wednesday. “We try to handle the situation as gently as possible, but there is never an easy way to deal with it,” he said.
Former MK One director and shareholder Mark Brafman is understood to be close to buying the bulk of the business.
Separately Elaine McPherson, also a former MK One director, snapped up another value chain that recently fell into administration, Au Naturale.
McPherson also bought Ethel Austin from administrators last week for a sum thought to be close to £8 million. She said that, although the businesses will remain separate, there will be some “correlation of brands”.
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