Blue Inc enters administration
Men’s fashion retailer Blue Inc has entered administration.
The retailer had been struggling of late and had implemented a range of restructuring and cost cutting measures as it tried to turn its business around. Then last month Blue Inc asked Begbies Traynor to find a buyer for the business but the turnaround firm has now placed the retailer in administration..
Begbies Traynor said: “We can confirm that that Blue Inc entered administration on Monday 10 December. The remaining 31 stores will continue trading while discussions are in progress regarding the future of the brand. We cannot make any further comment at this time.”
According to The Sunday Times, there are two potential buyers who are could take on some if the retailer’s stores and one company interested in the brand.
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