East enters administration
High street fashion retailer East has gone into administration for a second time in three years.
The retailer has seen Phil Armstrong and Geoff Rowley of FRP Advisory appointed as joint administrators.
With East operating 34 stores and 15 concessions, the move has put 314 jobs at risk.
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.”
The administrators are now working with stakeholders to evaluate options to sell all or parts of the business.
The company had seen its like-for-like sales increase by 6.5% over the Christmas trading period.
East also went into administration in 2015 when East Lifestyle bought parts of the business through a pre-pack deal worth £3.4 million.
