The Suits You chain is to be closed after its administrator Zolfo Copper said it was not “financially viable” to coninue trading.
Most of the 66 stores will continue to trade over Christmas and a closing down Sale will begin immediately, meaning clothing from brands such as Ted Baker, Ben Sherman and Melka will be discounted by as much as 75% during the festive trading period.
GA Europe, which acquired Suits You owner Speciality Retail Group for an undisclosed sum in October, will run the closure programme. All stores are set to be closed over the coming weeks.
Up to ten shops will close by early December – including Birmingham Bullring, Birmingham Fort, Bromley, Nottingham, Romford and Leeds White Rose.
Fraser Gray, partner at Zolfo Cooper, said: “We looked at trading the business in the longer term, however this has not proved to be financially viable. In the absence of a going concern buyer, the best alternative is an extended trading period through Christmas. This will provide some employees with ongoing employment during the festive season and we are expecting a busy period due to substantial discounting.”
Suits You employs about 300 people, the majority of whom will continue to be employed over the Christmas period.