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26 Jan 2009
Gay male clothes retailer Clone Zone has entered administration.
Administrators from David Rubin & Partner were appointed on Friday and have secured the sale of four of its ten shops, plus its brand and internet retail business, to Libertybelle UK.
They are confident of securing the sale of most of its remaining six stores in the coming days.
'Clone Zone has been another high-street retail victim of the recession,' commented Asher Miller of David Rubin & Partners.
'The business, as it was structured, found it hard to maintain market share when faced with growing competition on the internet. With this restructuring and renewed investment, coupled with a new focus on internet retail, the Clone Zone business will have the best chance possible of survival.'
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