Home / Knowledge / News / Textiles / Textiles retailer Rosebys goes down under soaring credit crunch
Textiles retailer Rosebys goes down under soaring credit crunch
27
Sep '08
The soaring credit crunch grabbed Rosebys as its next victim as the home textile retailer collapsed under the pressure of trying trading situation and continuing losses.

This was not the first instance and was preceded by Willis Gambier, a furniture supplier to Marks & Spencer and John Lewis, which also went down for similar reasons.

Considering the present situation, there are fears that scores of business failures would be witnessed in the coming days.

Some 2,000 jobs at 280 stores and at the distribution centre in Selby are threatened by Rosebys' collapse. Based in Yorkshire, the firm has an annual turnover of £100m and has pu on sale whole or parts of its business. Even though Rosebys did seek refinancing, it did not prove possible in the current economic climate.

Experts believe that retailers have been hit particularly hard by the downturn in consumer spending due to the housing market crisis.

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search