Sunny

Sunny

max temp: 13°C

min temp: 4°C

Search

UK: Jobs threat as fashion chain Republic faces administration

PUBLISHED: 17:37 12 February 2013 | UPDATED: 17:38 12 February 2013

Fashion retailer Republic is facing administration

Photo: PR Shots

Fashion retailer Republic is facing administration Photo: PR Shots

Archant

FASHION chain Republic is expected to collapse into administration tomorrow, putting 1,000 jobs at risk as it becomes the latest in a string of high street casualties.

The group has already lined up Ernst & Young to handle the administration, according to reports.

Republic, which is owned by private equity firm TPG, started in Leeds as a men’s denim retailer in 1986 and now has around 120 stores, including branches in Ipswich, Colchester, Chelmsford, Cambridge and Norwich, selling mens and womenswear brands including G-Star, Diesel and Firetrap.

Its woes follow a bleak start to the year for the retail sector, with a series of high-profile firms having hit the wall.

Thousands of jobs have been axed after music retailer HMV, camera group Jessops and DVD and games rental group Blockbuster called in administrators last month, with electricals chain Comet having collapsed before Christmas

It is understood that Republic has suffered amid poor trading in recent months, given the recent consumer spending pressures and its focus on the north of England - an area that has been hit particularly badly by the recession.

Chairman Andy Bond, a former Asda boss, is said to have stepped down last week after less than two years.

The chain recently hired ex-TK Maxx boss Paul Sweetenham as chief executive.

TPG bought Republic in June 2010 in a deal worth around £300million, with the founders understood to have retained a significant stake.

E&Y and Republic declined to comment.

1 comment

  • Another shop unit shorty to be filled by another coffee shop, charity shop or more likley it will stay empty ! Its "cesspit" Ipswich all over again

    Report this comment

    the opinion man

    Tuesday, February 12, 2013

A community school art project has helped break down the “invisible barrier” between the Whitehouse and Whitton wards in Ipswich, a former mayor has claimed.

An amateur dramatic group in Kesgrave has paid tribute to one of its longest serving members ahead of its new show – the first in 49 years not to have included his input.

Kesgrave High Show will tomorrow be putting on its first big show in five years, as it bids farewell to a long-running dance teacher and helps raise money for the department.

Singer Peter Andre will be meeting his fans and signing copies of his 2017 calendar and new perfume at the Buttermarket in Ipswich.

Her interactive presentation, which focussed on the importance of e-safety for young people, at the pupil referral unit in Spring Road was praised by the academy’s deputy head Trudy Read.

An Ipswich driver has been banned from the road for six months after being caught speeding four times in seven weeks on the A12 near East Bergholt.

The University of Suffolk will be offering higher and degree apprenticeships for the first time from June – a move which business leaders say will mark Suffolk as a driving force in skills and leadership.

Dozens of swimmers have taken to the water in preparation for conquering the Great East Swim this summer.

Formed from Suffolk stone and sand through feats of strength and will of man – its fortifications stood the test of time as well as any of its kind.

Business students at West Suffolk College have used their entrepreneurial skills to raise more than £3,000 in just five days.

Most read

Most commented

HOT JOBS

Show Job Lists

Topic pages

Newsletter Sign Up

Sign up to receive our regular email newsletter
MyDate24 MyPhotos24