UK: Jane Norman placed in administration again
Fashion retailer Jane Norman has been placed in administration for the second time in three years, but plans to resurrect the brand as an online and international business.
The company’s 24 stores in the UK and Ireland have been placed in administration with Les Ross, David Riley and Alistair Wardell of Grant Thornton appointed as administrators.
Jane Norman blamed the “extremely challenging” market conditions and a “very competitive” young fashion sector for the move.
A spokesman said: “While we have made every effort for a number of years to makes those stores work, that part of the business is no longer viable.
“At the same time, however, we fundamentally believe in the Jane Norman brand and its future as a web and international concessions business.”
Ross said the administrators intended to continue trading at the stores “for as long as possible”, but admitted: “It is likely, however, that store closures are inevitable.”
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