UK: QS, Bewise in administration, QS chief quits
Hamsard, owner of the struggling QS and Bewise value wear chains, has gone into administration. In addition, QS chief executive Serge Khela has quit the business, and will be replaced by executive chairman Findlay Caldwell who will also take on the role of chairman.
Hamsard is now working with administrators Grant Thornton to restructure management of the group, which has suffered from negative same-store sales and poor margins of late.
The group's shareholders and directors said they felt they must resort to administration, but were committed to turning around the company's fortunes.
QS and Bewise employ about 4,500 workers in 343 UK stores.
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