tReds falls into administration
The UK-based footwear retailer, with a chain of footwear stores across the UK and an online operation, has been placed into administration
It has been confirmed that Weymouth-headquartered tReds LLP, has gone into administration, with Ross Connock and Zelf Hussain of PricewaterhouseCoopers (PwC) appointed as joint administrators.
The footwear and fashion retailer operates 21 stores across the UK alongside its head office and warehouse is in Weymouth, Dorset. Its head office and warehouse is in Weymouth and the business employs 165 staff.
Ross Connock, PwC director and joint administrator, stated: "The business has faced similar challenges to those seen across the retail sector, including changing consumer behaviour and economic uncertainty. This has resulted in reduced revenues across the store portfolio. Despite the best efforts of management, there was unfortunately no alternative but to place the Partnership into administration. All staff remain employed as normal and we are continuing to trade the business in the coming days while we assess the trading strategy and explore any interest in the business."
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