900 jobs to go as fashion retailer Store Twenty One closes all stores - including several in Essex and Suffolk – as firm goes into liquidation
- Credit: Archant
Fashion retailer Store Twenty One, which has stores across Suffolk and Essex, has gone into liquidation with the loss of 900 jobs nationally.
In Suffolk and north Essex the chain has shops in Stowmarket, Colchester, Clacton, Braintree, Witham and Thetford.
Its owner, Indian manufacturing giant Alok Group, failed to secure investment for the chain following a Company Voluntary Arrangement in 2016. As a result, corporate recovery firm Quantuma has been appointed to handle its liquidation, which will see all 122 stores close.
Quantuma partner Simon Bonney said: “It is very sad that matters have got to the stage where all the stores were closed by management on Friday following a prolonged period of uncertainty leading up to the liquidation.”
Loss-making Store Twenty One has found high street trading tough as turnover declined from £95m to £57m in the past few years.
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It is not known at this stage how many jobs are affected in Essex and Suffolk.
• Do you work at Store Twenty One? Are you affected? If so then please contact firstname.lastname@example.org
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