Reuters logo
Fashion firm Republic appoints administrators
February 14, 2013 / 1:54 AM / 5 years ago

Fashion firm Republic appoints administrators

LONDON (Reuters) - Fashion retailer Republic became the latest casualty of the economic downturn on Wednesday, seeking protection from creditors and putting around 2,500 jobs at risk.

A branch of clothing chain Republic is seen in London February 13, 2013. REUTERS/Toby Melville

The firm, which operates 121 stores across the UK with a stronger presence in the north of the country, has appointed administrators Ernst & Young to sell the business while it continues to trade.

Republic is owned by private equity firm TPG.

Ernst & Young said the retailer had been hit by poor autumn trading and a rapid decline in sales in late January. It has made 150 staff at Republic’s head office redundant.

Republic’s demise is the latest in a string of British high street casualties this year. Music and entertainment retailer HMV, DVD rental firm Blockbuster and camera specialist Jessops have all gone into administration.

Reporting by Neil Maidment; Editing by James Davey

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below