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Apparel retailer D2 may be split up
05 Jan '10
1 min read
Warnings of experts from the retail trade are ringing true as to whether a buyer can be found for Scottish fashion chain D2 after it declared insolvency and went in to administration. Analysts aver that, investors would prefer to pick individual stores rather than the whole chain of shops, which could also lead to job redundancies in this Scottish retailer chain.
Restructuring experts have now taken control over the retailer, but concerns are being raised if the fortunes of the retailer can be turned around without splitting it up. D2 was created through the merger of Fosters Menswear and Jeans for Sale and was facing problems even before the recession began and had declared pre-tax losses in 2007.
D2 has already made 60 jobs redundant, which includes 22 at its headquarters in Dundonald and if a buyer is not found, it is assumed that around 1,000 may lose their jobs. It is expected that more retailers could go the D2 way in 2010. In 2009, 23 high-profile retailers had declared insolvency and were handed over to administrators.
Restructuring experts have now taken control over the retailer, but concerns are being raised if the fortunes of the retailer can be turned around without splitting it up. D2 was created through the merger of Fosters Menswear and Jeans for Sale and was facing problems even before the recession began and had declared pre-tax losses in 2007.
D2 has already made 60 jobs redundant, which includes 22 at its headquarters in Dundonald and if a buyer is not found, it is assumed that around 1,000 may lose their jobs. It is expected that more retailers could go the D2 way in 2010. In 2009, 23 high-profile retailers had declared insolvency and were handed over to administrators.
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British Textile Machinery Association (BTMA)
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