retailworld
30-09-2008, 13:30
Rosebys has fallen into administration. The group employs around 2,000 staff in its 280 stores, head office and distribution centre.
Joint administrator Howard Smith of KPMG said: "The business is continuing to trade as normal while we review the financial position and seek a going concern sale. No employees have been made redundant to date.
"In common with many retailers, the group has experienced difficult trading conditions, leading to continuing losses. Rosebys has recently sought to re-finance, but this did not prove possible in the current economic climate. We are looking for offers for the whole or any part of the business”.
In the year to March 31st Rosebys made a loss of £6 million.
Who would be a suitable buyer for the struggling retailer?
Joint administrator Howard Smith of KPMG said: "The business is continuing to trade as normal while we review the financial position and seek a going concern sale. No employees have been made redundant to date.
"In common with many retailers, the group has experienced difficult trading conditions, leading to continuing losses. Rosebys has recently sought to re-finance, but this did not prove possible in the current economic climate. We are looking for offers for the whole or any part of the business”.
In the year to March 31st Rosebys made a loss of £6 million.
Who would be a suitable buyer for the struggling retailer?