No Joy as clothing chain falls into administration

Clothing and homeware chain Joy has joined a growing list of businesses to fall into administration as the slowdown in global markets spreads in severity.

A report on guardian.co.uk outlined details of the administration which was made official on Friday evening when the trading company, Maureen O'Brien Limited, called in representatives from David Rubin & Partners.

The firm said it is attempting to source a buyer to 'preserve the maximum number of jobs and to ensure the best possible realisations for the company's creditors'.

High-profile clients of the brand include Keira Knightley and Sienna Miller.

Distribution is run from 28 stores nationally with a headcount of 370 staff.