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Young fashion chain Exhibit enters administration

Northern Irish womenswear chain Exhibit has entered administration with the loss of 100 jobs.

exhibit

exhibit

The business, established in 1983, has 14 stores and concessions in Northern Ireland, along with two shops in the Republic of Ireland – in Monaghan and Sligo.

James Neill and Rachel Foster of HNH Group have been appointed as joint administrators of the firm, which is registered under the name Cucco Retail.

All items on the Exhibit website are currently listed as being sold out. 

In a statement, administrators said the collapse of the company highlighted the “continued difficulties” on the high street.

“A general downturn in trading conditions, coupled with a significant change in consumer spending patterns over recent times, has significantly impacted on the company’s trade and has resulted in the appointment of joint administrators.

“The appointment highlights the continued difficulties experienced by independent retailers on the high street.

“The joint administrators and their staff are currently undertaking an immediate assessment of the financial position of the company and its assets. Once this is complete, the joint administrators will have a clearer picture of the future options available to them.

“Our immediate priority is to communicate with the key stakeholders of the business, including employees, creditors and landlords.”

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