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24/04/2009
Jobs At Risk As Bay Trading Enters Administration
British fashion chain Bay Trading has gone into administration, putting around 1,000 jobs at risk.
The retail outlet's parent company Alexon made the announcement today, and stressed that its other brands such as Ann Harvey and Kaliko will not be affected.
It added that it had been reviewing a range of options for Epcoscan Limited - which trades as Bay Trading - after its credit insurer withdrew cover for the group’s suppliers, as a result of "material uncertainty" over Bay's performance.
Administrators, who are due to be appointed later, hope to continue trading Bay Trading until a buyer can be found.
Alexon operates two separate businesses: Epcoscan, which trades as Bay Trading, and Alexon Brands, which runs outlets such as Ann Harvey, Kaliko, Eastex and Alex & Co.
Alexon reported on Wednesday that Bay Trading had made an adjusted operating loss of £7.2m in the year ended January 31, against a profit of £1.1m last year, with same-store sales down 16%.
(JM/BMcC)
The retail outlet's parent company Alexon made the announcement today, and stressed that its other brands such as Ann Harvey and Kaliko will not be affected.
It added that it had been reviewing a range of options for Epcoscan Limited - which trades as Bay Trading - after its credit insurer withdrew cover for the group’s suppliers, as a result of "material uncertainty" over Bay's performance.
Administrators, who are due to be appointed later, hope to continue trading Bay Trading until a buyer can be found.
Alexon operates two separate businesses: Epcoscan, which trades as Bay Trading, and Alexon Brands, which runs outlets such as Ann Harvey, Kaliko, Eastex and Alex & Co.
Alexon reported on Wednesday that Bay Trading had made an adjusted operating loss of £7.2m in the year ended January 31, against a profit of £1.1m last year, with same-store sales down 16%.
(JM/BMcC)
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Northern Ireland WeatherToday:Some low cloud lingering in the north and west through the day, although cloud should burn back to the coast as the day goes on. Elsewhere some good sunny spells with very little cloud. Warm with light winds. Maximum temperature 22 °C.Tonight:A sunny evening for most except where cloud lingers along the north coast. Cloud will increase for a lot of areas overnight with mist and fog patches developing. Minimum temperature 7 °C.
