Gay male clothes retailer Clone Zone has entered administration.
Administrators from David Rubin & Partner were appointed on Friday and
have secured the sale of four of its ten shops, plus its brand and internet
retail business, to Libertybelle UK.
They are confident of securing the sale of most of its remaining six stores
in the coming days.
‘Clone Zone has been another high-street retail victim of the recession,’
commented Asher Miller of David Rubin & Partners.
‘The business, as it was structured, found it hard to maintain market share
when faced with growing competition on the internet. With this restructuring and
renewed investment, coupled with a new focus on internet retail, the Clone Zone
business will have the best chance possible of survival.’
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