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Trading slowdown leaves JT Morgan in administration

Swansea-based independent department store JT Morgan has gone into administration with the loss of about 60 jobs, but a rescue deal is thought to be imminent.

The 90-year-old store, which hosted concessions including Alexon and Ann Harvey and sold brands such as Golddigga and Ichi, is continuing to trade while administrator Deloitte talks to potential buyers. But Richard Hawes, partner in Deloitte’s reorganisation services practice, said he expected a deal to be sewn up “within days”.

A drop in trade is thought to be behind JT Morgan’s demise. However, Hawes said sales were now steady. He added: “We had a bit of a sales rush when the news came out because people thought we would be selling everything at knock-down prices. But now trading is holding up as normal.”

Staff numbers have been cut from 77 to around 20.

The store had been due to move into the new £30 million Swansea city centre retail development being built on the site of the old David Evans department store in August.

JT Morgan was set up in 1918 and claims to be the largest independent department store in Wales. It used to run a membership-only model, only allowing customers into the store who were members.

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