THE RETAIL BULLETIN - The home of retail news
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Health & Beauty
General Merchandise
Sports & Leisure
Retail Solutions
Food & Drink
Textiles Direct enters administration

Homewares retailer Textiles Direct has gone into administration putting more than 300 jobs at risk.


Textiles Direct enters administration

The Oldham based retailer, which operates 52 stores across the UK, said last month that it intended to appoint administrators after seeing a 20% fall in sales over the past year.

Administrator Kevin Lucas of insolvency specialist Lucas Johnson said he would continue to trade the majority of stores while seeking a  buyer for the business. However, five stores will close immediately with staff being made redundant. There will also be a number of redundancies within the firm’s head office.

Lucas said: “The administration had been caused by a number of factors, but the single largest factor is the unprecedented decline in turnover, which has been in the region of 20% over the past 12 months. 

“The pressure on the high street is well known – disposable incomes and discretionary spending have been squeezed much more than anyone could have foreseen, meaning those retailing non-essential items have been hit much harder than expected and, as is common with many retail business, onerous leases and potentially high fixed central overheads mean little can be done to turn a business around outside of administration.

“The business continues to trade during the period of administration and we believe a suitable buyer will be found.  I am pleased to have already received several expressions of interest in the business.  We have secured the support of a major supplier to ensure sales are maximised during the coming weeks.

“It is inevitable that if a buyer is not found we will be forced to close the business, but my team and I will be working hard to try and avoid this happening.”

Online sales through the Textiles Direct website are made through a separate business which is unaffected by the administration.


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 Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
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
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing