Select enters administration
The struggling Select fashion chain has entered administration, putting 1,800 jobs at risk.
Business advisory firm Quantuma has been appointed as administrator of Genus UK which trades as women’s fashion retailer Select.
With an annual turnover of £77 million, the retailer operates from 169 stores across the UK, and also has a head office and warehouse facilities.
The administrators are currently assessing all available options open to the business as they look to secure its future. There have been no redundancies made as a result of the administration.
Andrew Andronikou, joint administrator at Quantuma, said: "We will continue to trade Select whilst we assess all options available to the business, with the aim of achieving the optimum outcome for all stakeholders.
“Options include a sale of the business, in addition to entering into discussions with those parties who have already expressed interest in acquiring the business.
“To support these efforts, a dataroom has been established and any further expressions of interest are invited. We will also be assessing CVA proposals which have been put forward by the directors.”
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