Home / Knowledge / News / Apparel/Garments / Firetrap stores to shut, 51 employees to lose job
Firetrap stores to shut, 51 employees to lose job
19
Mar '12
UK denim brand Firetrap would be closing down its six retail stores making 51 employees working there redundant.

World Design and Trade, the operating company of fashion brands FullCircle and Firetrap, was in administration for some time.

Administrators Ernst & Young were successful in securing a deal with Sports Direct, which acquired Firetrap's wholesale business, brands and concession stores, thus securing over 170 jobs.

However, the six retail stores owned by Firetrap were not bought by Sports Direct and hence, they need to be closed, the administrators said.

Two companies – JD Sports and Sports Direct – were in the race to buy Firetrap. This was the second time that the two sportswear firms vied to acquire the same company. Earlier, they had competed to buy Blacks, which was finally bought by JD Sports.

In UK, Firetrap became the latest of apparel brands falling into administration after the collapse of Peacocks in January this year. A majority stake in Peacocks was recently acquired by The Edinburgh Woollen Mill.

Sports Direct will add Firetrap to its brand portfolio. The sportswear brand had acquired premium chain Cruise and apparel retailer USC last year.

Fibre2fashion News Desk - India

Must ReadView All

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Courtesy: IRRC Institute

Apparel/Garments | On 27th May 2017

Up to 7.5 mn retail jobs in US at risk due to automation

About 6-7.5 million retail jobs in the US are likely to be automated...

Textiles | On 27th May 2017

Indian textiles ministry promotes wool sector

The ministry of textiles has taken multiple steps to promote the wool ...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search