Hub Retail falls into administration
Hub Retail, the discount retailer set up by Poundland co-founder David Dodd, has collapsed into administration after only a year of trading.
The company said it could not compete with the huge buying power of the more established discount shops.
The collapse of the chain which has branches in Lichfield, Stafford, Telford and Manchester will result in the loss of 57 jobs.
All stores have now closed and liquidators are being appointed.
David Dodd commented: “We have fought to succeed, and have not accepted failure without a fight, but I have had to accept that despite the best endeavours of all our hardworking staff, we have been unable to create a viable and sustainable business in the current climate. Having taken independent professional advice, we have reached the difficult decision that liquidation is in the best interests of all involved.”
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