Jane Norman enters administration again
Fashion retailer Jane Norman has gone into administration for a second time in three years. The move puts 157 jobs at risk at the 24-strong chain of stores.
In a statement the company said it had called in restructuring firm Grant Thornton as it was no longer able to continue to support its loss-making UK and Ireland retail stores.
It added: "Like many retailers, we have seen extremely challenging conditions on the high street for several years in what is a very competitive sector in young fashion. While we have made every effort for a number of years to makes those stores work, that part of the business is no longer viable."
The administrators said they intend to continue trading the stores for as long as possible with a view to achieving the best outcome for all concerned. However, they warned that store closures are likely to be "inevitable".
Jane Norman previously fell into administration in 2011 although current owner Edinburgh Woollen Mill stepped in and bought a third of the stores.
Despite the impending store closures, it is understood that Edinburgh Woollen Mill will continue to sell the brand’s clothing online and in international concessions.
Email this article to a friend
You need to be logged in to use this feature.
Please log in here