Fashion chain Republic set to go into administration
Another well-known high street name has collapsed, putting hundreds of jobs in jeopardy.
Fashion chain Republic, which employs about 10 staff at a shop in Highcross shopping centre, Leicester, is set to go into administration today, according to reports.
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Republic store in Leicester's Highcross shopping centre
The group has 121 stores across the country and employs 1,000 people.
Republic, which specialises in young fashion, is owed by private equity firm TPG.
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Reports say Ernst & Young has been lined up as administrator.
Republic’s collapse comes after Jessops, HMV and Blockbuster all plunged into administration last month.
Leicester-based camera chain Jessops has since closed all its 187 stores with the loss of about 1,500 jobs.
Two weeks ago the Jessops name was bought by a group of business people headed by Dragons’ Den star Peter Jones.
HMV and Blockbuster are still trading, although HMV’s outlet in Loughborough and Blockbuster’s store in Beaumont Leys are set to close shortly.
Comments
by llamalamb
Tuesday, February 12 2013, 5:45PM
“Of course suggesting that this might have anything to do with the triple dip recession, the economy or George Osbourne's fiscal policies might lead to tirade of flak from the more right wing leaning LM readers. The Tories seem blind to the mess they are making of the country.
My sympathies to those who face losing their jobs.”