Partly Cloudy

Partly Cloudy

max temp: 11°C

min temp: 3°C

ESTD 1874 Search

UK: Jobs threat as fashion chain Republic faces administration

17:37 12 February 2013

Fashion retailer Republic is facing administration

Photo: PR Shots

Fashion retailer Republic is facing administration Photo: PR Shots

Archant

FASHION chain Republic is expected to collapse into administration tomorrow, putting 1,000 jobs at risk as it becomes the latest in a string of high street casualties.

shares

The group has already lined up Ernst & Young to handle the administration, according to reports.

Republic, which is owned by private equity firm TPG, started in Leeds as a men’s denim retailer in 1986 and now has around 120 stores, including branches in Ipswich, Colchester, Chelmsford, Cambridge and Norwich, selling mens and womenswear brands including G-Star, Diesel and Firetrap.

Its woes follow a bleak start to the year for the retail sector, with a series of high-profile firms having hit the wall.

Thousands of jobs have been axed after music retailer HMV, camera group Jessops and DVD and games rental group Blockbuster called in administrators last month, with electricals chain Comet having collapsed before Christmas

It is understood that Republic has suffered amid poor trading in recent months, given the recent consumer spending pressures and its focus on the north of England - an area that has been hit particularly badly by the recession.

Chairman Andy Bond, a former Asda boss, is said to have stepped down last week after less than two years.

The chain recently hired ex-TK Maxx boss Paul Sweetenham as chief executive.

TPG bought Republic in June 2010 in a deal worth around £300million, with the founders understood to have retained a significant stake.

E&Y and Republic declined to comment.

shares

1 comment

  • Another shop unit shorty to be filled by another coffee shop, charity shop or more likley it will stay empty ! Its "cesspit" Ipswich all over again

    Report this comment

    the opinion man

    Tuesday, February 12, 2013

Bury St Edmunds Chamber Hustings event on 14 April at West Suffolk College: David Chappell (Liberal Democrat); Jo Churchill (Conservative); Colin Knight, Chair, Bury St Edmunds Chamber; Nigel George, Bury St Edmunds Board member; William Edwards (Labour); Dr Helen Geake (Green Party)

Suffolk’s business sector has been striving to ensure its voice is heard at a series of hustings in the run-up to the General Election.

EE is building 4G base ahead of BT deal

EE, the UK’s biggest mobile operator, said it is on track to sign up 14 million 4G customers by the end of the year.

The CWT fears a trade deal with the US would undermine any future proposals to renationalise organisations like BT or Royal Mail.

Opposition to a controversial trade deal being negotiated between the European Union and the United States has intensified amid warnings of its “massive impact” on any future campaign to renationalise the Royal Mail or BT.

A colder than normal start to the year has boosted British Gas profits.

Profits at British Gas are set to rise after the energy supplier revealed a boost in consumption following a colder than normal start to the year.

Matthew Embley,  RDC recycling services manager, left, and Gary Griffiths, RDC international partners compliance, with the company's gold Zero Waste award.

Information technology reuse and recycling company RDC has received a gold Zero Waste Award from the letsrecycle.com website.

Angela Rushforth, managing director of Ridgeons, with the firm's Investors in People gold accreditation.

Regional timber and builders’ merchant chain Ridgeons has been awarded a “gold” rating under ther Investors in People (IiP) programme.

Alex Till of Menta.

Suffolk-based Enterprise agency Menta and the county branch of the Institute of Directors (IoD) are working together to help Suffolk business owners as they strive for growth.

The water unit from the Prince's Street fire station with Ipswich with officials from the Port of Ipswich and students from Suffolk New College at the water safety demostration hosted by the port.

The Port of Ipswich teamed up with Suffolk Fire and Rescue Service to stage a rescue simulation off Orwell Quay.

From left, Chris Chamberlain from HTK, Vicki Cole from Crafted and Helen Dodman from Ipswich Central, the three organisations behind the Destination Digital conference.

The company behind the delivery of the Ipswich town centre Business Improvement District project has teamed up with two local digital specialist to stage a conference on online marketing for the tourism and hospitality sectors.

French Connection has warned that it faces a substantial loss when it posts its annual results.

Fashion chain French Connection today warned that it now expects to make a big annual loss after seeing its recovery hopes dashed by a difficult spring trading period.

Most read

Most commented

Topic pages