UK: Base Menswear goes into administration
Clothing retail group Granditer Menswear Limited, which trades as Base, has gone into administration after struggling in a volatile UK trading environment.
The Essex-based company, which operates 21 stores, said that Neil Bennett and Michael Healy of Leonard Curtis were appointed joint administrators last week.
Base, originally founded in 1906, sells boys' and mid-market men's fashion lines, with stores mainly located around London in the south east but also in Birmingham, Derby, Manchester and Newcastle.
Base's results for the year to February 2007 showed a turnover of GBP13.3m. It is not connected to the Base London footwear brand.
Commenting on the administration, Bennett said: "This is a well established business which, in previous years, had been successful, although, more recently, it has suffered under the generally difficult trading conditions currently affecting the high street.
"We are conducting an appraisal of the business with a view to establishing the level of interest in the stores.
"We are continuing to trade the 21 shops in the short term, and are hopeful that we will be able to save very many of the approximately 100 jobs concerned and produce a good return for the creditors."
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