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    MK One founder buys back business

    MK One founder buys back business

    Deloitte & Touche has sold about 100 of MK One stores to Jet Star Retail, connected to the company's founder

    Author Date published May 28, 2008 Categories

    The administrators
    Deloitte
    & Touche     has sold 100 MK One stores to Jet Star Retail, a company
    connected to Mark Brafman, who started the MK One budge clothing chain in 1985.

    The sale, for an undisclosed sum. is likely to save many hundred jobs among
    the group’s 2500 staff, although Deloitte refused to comment, according to
    The
    Press Association    .

    Deloitte, appointed administrators last week, has already cut 39 jobs at the
    group’s head office. The sale represents more than half of MK One’s 172 stores.

    ‘We will continue to trade the remaining stores under the MK One banner
    whilst exploring the available options,’ Deloitte partner Lee Manning said.

    Further reading:

    Deloitte called in at MK One

    MK One enters administration

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