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
‘MK One has a strong customer base, a range of good brands and an excellent
store portfolio,’ he said,
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Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group