Blacks Leisure arm Sandcity collapses
Adminstrators from KPMG called in at Sandcity, which has 11 UK stores operating under the popular O'Neill brand
Boardwear retailer Sandcity has gone into administration, becoming the latest
high-street operator to fall victim to the recession.
Sandcity, which employs 90 staff is a subsidiary of Blacks Leisure group, but
operates 11 UK stores under the popular O’Neill leisurewear brand.
Partners from KPMG, Richard Fleming and David Costley-Wood were appointed as
administrators today.
KPMG stressed while Sandcity stores operate under the O’Neill brand, O’Neill
is a separate company and is therefore not affected by the administration.
Fleming, UK head of restructuring at KPMG, said: “The outdoor leisure market
has become increasingly competitive in recent years and, indeed, the leisure
market has been affected profoundly by the recession as consumers rein in
discretionary spend to focus on more essential items.”
All 11 stores are currently still trading and no immediate redundancies have
been made. The administrators are seeking a buyer of the business as a going
concern, KPMG added.
Interested parties should contact the administrators as soon as possible on
0161 246 4475.