Kookai traders in administration
Kookai is the latest retailer to suffer trading woes on the high street
Adjustbetter, the company which carries out the trade of fashion retailer
Kookai in the UK, has entered into administration.
Neville Kahn, Nick Dargan and Lee Manning of Deloitte have been appointed as
administrators of Adjustbetter, which is a wholly owned subsidiary of Forminster
Plc whose shares were suspended on 22 December 2005.
Kookai, which operates out of 55 outlets and employs 600 staff, will continue
to trade until a buyer for some or all of the business is found.
‘For some time there has been uncertainty over the franchise arrangements
with Kookai SA and this administration enables more stability to be brought into
the business,’ said Kahn.
Kookai is the latest well-known brand to face trading difficulties.
Off-licence retailer Unwins entered into administration in late December, with
many of its stores eventually purchased by Threshers.