MCR administrators for department store business Vergo Retail Limited have
announced the sale of one the 18 department stores.
Robbs, in Hexham, has been sold to rival J E Beale, which owns 11 other
department stores in Bournemouth, and is expected to save all jobs.
Sarah Bell, partner at MCR and one of the administrators, said: “Following an
effective administration process, we are delighted to confirm the sale of such
an iconic store in the region. It’s positive news for both the 76 company
employees whose jobs will be directly transferred to the new owners as well as
the local community.”
Steven Muncaster and Bell were appointed as joint administrators on 7 May
The administrators announced at the end of May that they had begun closing
down sales at all the stores in the portfolio whilst continuing sale
If purchasers for the remaining 17 stores are not found, an announcement
confirming the final days of trading will be made later this month.
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