Administrators from Leonard Curtis have pulled off the sale of a major slice
of Mark One stores only six days after taking over at the embattled fashion
Neil Bennett and Michael Healy announced the sale of 85 stores to
Internacionale Retail Limited today, saving about 800 jobs.
‘We are delighted to say that we have been able to sell the bulk of this
business within a matter of days and we have been able to save the jobs of well
over half of the employees,’ said Bennett.
However Mark One’s head office in Acton is set to close which will result in
‘some job losses’ the administrators said.
The futures of about 600 staff at 40 more stores still hang in the balance.
‘We are evaluating the remaining stores although if purchasers cannot be found
these may have to close, the administrators added.’
The value fashion retailer, previously known as MK One, was rebranded back to
its original name of Mark One but fell into administration again in September.
This followed on from MK One collapsing in May after being sold to Hilco by
Baugur, the troubled Icelandic investment firm.
‘We believe that this time the new business has a strong future and we wish
management and staff every success,’ added Bennett.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children