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22 May 2008
Deloitte has been appointed administrator yesterday of MK One, the value fashion retailer, less than three weeks after its owner and turnaround specialist Hillco bought the chain from Icelandic retail investor Baugur.
The retailer has attracted criticism for refusing to pay clothing suppliers in the past weeks, The Daily Telegraph reports.
Lee Manning, partner in Deloitte's reorganisation services practice, said the chain would continue to trade the business as a going concern while seeking a buyer.
‘MK One has a strong customer base, a range of good brands and an excellent store portfolio,’ he said,
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