Fashion retailer East enters administration putting 314 jobs at risk
PUBLISHED: 09:31 30 January 2018 | UPDATED: 16:11 31 January 2018
Up to 314 jobs are at risk at a fashion retailer after it fell into administration.
East, which has stores in London Street, Norwich, and Buttermarket, Bury St Edmunds, has become the latest high-street brand to run into trouble.
It is the second time in less than three years that the womenswear company has entered administration.
Business recovery partners Geoff Rowley and Phil Armstrong of FRP Advisory have been appointed to oversee the administration.
Mr Rowley said: “Unfortunately, East is the latest high street casualty following a tough trading period at the end of last year. The retailer was making progress to expand its footprint, particularly looking at international opportunities. However it has been unable to secure the necessary funding to realise those plans.
“We’re now working closely with all stakeholders to evaluate the options to sell all or parts of the business.”
East first opened its doors in London in 1994 and operates 34 stores and 15 concessions, employing 314 staff across the UK. The retailer continues to trade while the joint administrators evaluate options for the sale of all or parts of the business.
It is the second time in three years the firm has entered administration with 2015 seeing 15 stores and five concessions closed in a pre-pack deal.