Talk to us today in confidence0800 970053907833 240747

Blue Inc goes into administration

Written by Robert Moore Marketing Manager 16 December 2018

Be the first to comment

Blue Inc, chaired at one time by Stewart Rose the ex chairman of M&S went into administration on Friday in another blow to the High Street.  The firm had been in a Company Voluntary Arrangement which saved it £6m but it still lost £2.7m.  This allowed it to close 34 of its 127 stores but since the CVA it has been closing more.  They have probably been able to close other stores as they were on short term leases.

The company received equity injections from shareholders of £1.6m from Uniserve Holdings and £1m from Padma Textiles, but this was not enough to stave off administration.

It is understood that there has been interest in some of the stores and the brand.

Begbies Traynor who have been appointed administrators have not commented on the administration.

Categories: Retail, What is administration

Comments

Post a Comment

Please keep your comments relevant. Company Rescue reserves the right to edit or delete comments.

The blog postings on this site solely reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of Company Rescue. All comments are made in good faith, and Company Rescue will not accept liability for them. We may contact you in response to your comment – by submitting your comment, you are consenting to this.

To find out more about how we collect, use and protect your data, please read our privacy policy.

You are currently offline. Some pages or content may fail to load.