Bay Design, the business that bought former Alexon chain Bay Trading out of administration in April, is closing two thirds of its stores as it drives its concessions business and launches an online operation.
Rinku Loomba, who led the Bay Trading acquisition and is managing director of supplier Rinku Group, said Bay Design would not renew the leases on 19 of its 30 standalone stores after the expiration of temporary six-month leases granted by administrator Deloitte.The stores will return to the landlords and 120 store staff are in consultation as a result.
The closures will leave the business with 10 standalone stores and
a 100-strong department store concession business.
Loomba said trade was “holding up well”, while Rinku Group – which owns the Tigi-Wear, Viz-A-Viz and iZ brands – was “level on last year”.