Deathwatch: Barratts go into administration again
Duff & Phelps are the firm who have been tasked with being administrator to Barratts, which has 75 stores and 23 concessions across the UK, employing 1,035 people. This is the third time that Barratts have gone into administration in four years.
"The company had recently received an offer from an investor to inject 5 million pounds ($8.0 million)... but that offer was withdrawn on the evening of November 8," said Duff & Phelps. "At this stage redundancies and/or store closures cannot be ruled out," the added.
The last time Barratts went into administration was December 2011, when they had 191 stores and 371 concessions. Even with the new slimline version of the company, it couldn't cope.
Looks like they're going to vanish from the high street forever.
TOPICS: High Street News