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Blue Inc buys 20 D2 Jeans stores, saves 200 jobs
09 Jan '12
1 min read
Blue Inc, the UK-based retail chain catering to the young, fashion savvy male, has bought 20 stores of d2 Jeans form its administrators, rescuing jobs of about 200 employees.
Last month, Dundonald, Ayrshire-based Scotland's jeans retailer D2 Jeans had run into administration, with the closure of 19 outlets in the UK, including six in Scotland.
BDO LLP, the administrators, said Sir Stuart Rose backed Blue Inc has agreed to acquire 20 outlets and they are in search for a buyer for the remaining D2 stores.
D2, founded by Scottish entrepreneur Sir Tom Hunter, slipped into administration last month –second time within last two years.
Blue Inc has expanded rapidly since it acquired the former Mr Byrite business in 2006.
Blue Inc's sales are expected to sharply grow to GBP 75 million in 2011. Its profits are also likely to rise by 38 percent year-on-year to GBP 4 million.
Last month, Dundonald, Ayrshire-based Scotland's jeans retailer D2 Jeans had run into administration, with the closure of 19 outlets in the UK, including six in Scotland.
BDO LLP, the administrators, said Sir Stuart Rose backed Blue Inc has agreed to acquire 20 outlets and they are in search for a buyer for the remaining D2 stores.
D2, founded by Scottish entrepreneur Sir Tom Hunter, slipped into administration last month –second time within last two years.
Blue Inc has expanded rapidly since it acquired the former Mr Byrite business in 2006.
Blue Inc's sales are expected to sharply grow to GBP 75 million in 2011. Its profits are also likely to rise by 38 percent year-on-year to GBP 4 million.
Fibre2fashion News Desk - India
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