Internacionale is poised to enter administration, putting more than 1,500 jobs at risk, following Drapers news story last week that the business is in the hands of restructuring specialist Jason Granite.
Drapers has heard from both staff and suppliers who said that Granite told them he plans to put the company into administration as early as tomorrow (Monday).
One supplier, who said his business was owed a six-figure sum, told Drapers Granite had said he had no option but to enter administration because bailiffs were entering stores over unpaid rent and rates. The source said Granite was planning to wind the company down completely in the next three to four months.
Drapers revealed last week that the company had already begun making redundancies at head office and throughout stores staff at its 114-strong chain.
At least two stores have been entered by bailiffs since the start of the year. They either changed the locks changed – meaning employees have been unable to retrieve personal belongings – or have removed stock, fixtures and fittings in lieu of unpaid rent. Drapers has seen photographic evidence that shows that in at least one instance this took place in the middle of January.
A former staff member, who was made redundant by Granite last Monday, corroborated the supplier’s claim that Granite planned to wind down the company in the next three to four months.