Young fashion brand Gio-Goi has fallen into administration.
Jane Moriarty and Colin Haig of restructuring firm KPMG were today appointed as administrators of the brand, which is backed by branded fashion business Pentland.
In July last year, Gio-Goi closed its retail division, which comprised of three stores in Aberdeen, Manchester and Glasgow, blaming the tough high street trading conditions.
“Following a restructuring programme last year, Gio Goi was unable to return to growth levels enjoyed up until 2009 and has become another victim of the recessionary environment,” said Moriarty.
“We are now looking to sell the business and assets and will continue to satisfy customer orders pending a sale of the business.”
Within the UK the brand is distributed through young fashion chains JD Sports, USC, and Republic as well as via a network of independent retailers.
Design is handled at the company’s London head office, which focuses on two main and two subsidiary collections each year.
Gio-Goi employed 24 people, the majority of whom it is understood have been made redundant.