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
Vergo announces closing down sales at all 19 stores

Vergo, the troubled department store group, is to hold closing down sales at all its 19 stores

GENERAL MERCHANDISE

Vergo announces closing down sales at all 19 stores

Vergo, the troubled department store group, is to hold closing down sales at all its 19 stores

Sarah Bell and Steven Muncaster, Partners at MCR and joint administrators of department store business Vergo Retail Limited, have today confirmed that all 19 stores are commencing closing down sales with immediate effect, while negotiations with prospective purchasers continue.

The administrators have also confirmed the final day of trading for Lewis’s department store in Liverpool, will be this Saturday, 29 May 2010. This follows an announcement prior to the administration that it was set to close.  This will affect a total of 65 employees who work at the store.

“Discussions are ongoing with a number of different parties wishing to acquire part or all of the business. This process is being run in parallel with a discount sale in order to generate sufficient cash to fund the business in the short term. Unless a purchaser can be found for the whole business, further store closures during the coming weeks cannot be ruled out,” said Sarah Bell, partner at MCR.

The Company was established in 2007 and operates from a head office in Liverpool, employing a total of 942 staff across 20 outlets.  To date, a total of 341 employees have been made redundant across the business and one store in Dovercourt has been closed. Final closure dates for the remaining 18 stores have yet to be confirmed.

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