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Women's clothing firm Viyella calls in administrators
WOMEN'S clothing firm Viyella, which dates back to 1784, has become the latest well-established retail firm to call in administrators, unions said today.
There has been speculation for days the future of the company, one of the UK's longest established clothing manufacturers, was uncertain.
The firm has 120 stores, 10 of which are in Yorkshire including Ilkley and Doncaster, as well as concessions in bigger department stores and an online sales operation.
Unions said they hoped there would be a strong interest in buying the chain.
Paul Kenny, general secretary of the GMB union, said: "The City fat cats and their hangers-on who brought us the credit crunch have now brought down another iconic brand.
"The clothing jobs that were once a mainstream of manufacturing first migrated to China, while those within retail have gone as well now."
The design and retail chain employs hundreds of staff and is owned by Birmingham-based investment group Harris Watson, which said in a statement: "Following an assessment of the current economic situation and the prospects for the future, the directors have reluctantly decided that they have no alternative but to place the business into administration.
"We believe there will be a strong interest in the Viyella brand and hope the joint administrators will be able to conclude an early sale which protects the brand name and many of the jobs within the business.
"We should like to express our thanks to all the Viyella team for the hard work they have put into the business. Unfortunately the current economic downturn has undone all the efforts of the last five years."
Andrew Turpin of Birmingham-based insolvency practitioners Poppleton & Appleby, has been appointed joint administrator to William Hollins & Company Limited, which trades as Viyella from approximately 100 stores and concessions throughout the UK and employs around 450 staff.
Mr Turpin said: "The Viyella brand is trusted and respected both at home and abroad, and we expect that the prospect of a sale of the brand and the infrastructure will raise significant interest amongst other retailers. Indeed we have already been contacted by interested parties.
"We are currently assessing all options and, for the time being, allowing all the existing stores to continue to trade while a buyer is sought for the business."
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Saturday 26 May 2012
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