THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Liverpool's Rapid Hardware falls into administration

Liverpool department store Rapid Hardware has gone into administration after over forty years in business.

GENERAL MERCHANDISE

Liverpool's Rapid Hardware falls into administration

Liverpool department store Rapid Hardware has gone into administration after over forty years in business.

The retailer, which employs around 100 people, is now in the hands of administrators Duff & Phelps after they were appointed to the business on Tuesday.

Rapid is a family run store which has been based in Liverpool since 1971 in the landmark ‘George Henry Lee’ store. It recently completed a major refurbishment and sells a range of DIY, decorating, furniture, kitchen and lighting products .

The administrators said that Rapid had struggled against “challenging” trading conditions which had been exacerbated by the six month closure of the city’s Central Station for renovation work.  

Philip Duffy, Duff & Phelps, said: "High street trading conditions continue to be difficult for many retailers. The closure during much of last year of a local transport hub compounded this resulting in a dramatic loss of passing trade, the financial consequences of which were ultimately insurmountable."

He continued: "We are now examining the financial position of the company and the store will remain open for business whilst this review is undertaken."


  


 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process