LCR Jeans files for administration in Romania

ROMANIA: Lee Cooper licensee files for administration

By Joe Ayling | 25 January 2010

The Romanian licensee for denim brand Lee Cooper, LCR Jeans, will continue trading from a reduced number of stores after reportedly filing for administration in the country, just-style has learnt.

A spokesperson for Sun Capital, the private equity firm that owns Lee Cooper, told just-style that the issue affected its Romanian license holder only.

"Following the economic crisis the Romanian currency devalued by over 30% and retail sales in the economy fell on a similar basis," he added. "Our business and that of other Lee Cooper partners around the world are unaffected."

It follows a news report in La Ziarul Financiar that LCR Jeans, which owns the license for Lee Cooper in Romania, went into administration last month.

The newspaper reported that Euroinsol Consulting was LCR's legal administrator.

LCR's store footprint in Romania had risen to over 37 as of 2008, but nearly half of its stores are now expected to be closed.