D2 Jeans collapses into administration
Administrator BDO has closed 19 stores while the remaining 28 will be operated as a going concern while BDO seeks a buyer.
This is the second time in two years that the Ayrshire based company has gone into administration. In 2010 the firm’s management agreed a deal to buy 40 of the 72 stores out of administration saving 500 jobs in the process.
James Stephen of BDO LLP said the company had been affected by "extremely difficult trading conditions".
He added: "However, we are hopeful of securing a sale of all or part of the business and will continue to trade the business while this is explored."
D2 Jeans was originally founded in 1999 by Scottish retail entrepreneur Sir Tom Hunter who sold the company to its management in 2008.
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