UK: Morgan Retail saved by takeover deal
KPMG Restructuring has agreed a sale of
The deal follows the announcement last week that the chain had collapsed into administration.
The majority assets sale to Morgan DT includes ten 10 stand-alone stores and 47 department store concessions but not licensee outlets.
Morgan DT will re-employ about 400 staff plus 50 workers from the Morgan UK head office in
KPMG's PR and communications manager, Richard Griffiths, told just-style: "We had a number of expressions of interest but this was the best one."
"Similar acquisitions in markets such as
Morgan has struggled to compete in the competitive market and was also held back by the fact that most clothing was licensed from its French parent company, which meant it had less flexibility to lower prices.
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