PracticeAccounting FirmsDeloitte appointed MK One administrator

Deloitte appointed MK One administrator

Value fashion retailer MK One continues trading under Deloitte administration

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,

Further reading:

Read
The Daily Telegraph story

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