UK: Fashion retailer Joy goes into administration
Insolvency practitioners are trying to negotiate the sale of fashion, gift and home retailer Joy after it went into administration on Friday (26 September).
The administrators, Paul Appleton and Asher Miller of the accountancy firm David Rubin & Partners, say they hope to save as many jobs as possible.
They are also trying to "ensure the best possible realisations for the company's creditors".
Joy, which is registered as Maureen O'Brien, has 28 stores in the UK and employs 370 staff.
It is the latest in a line of UK retailers to go into administration this year.
Savile Row fashion house Hardy Amies Plc currently on the brink of bankruptcy after failing to secure additional funding from its major investor.
And earlier this month footwear retailer Faith was sold to retail entrepreneur John Kinnaird and investors Agilo after briefly going into administration.
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Maternity chain Blooming Marvellous is the latest UK clothing retailer reported to be in trouble, with newspaper reports at the weekend suggesting it could be about to call in the administrators....
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