Deathwatch - USC calls in the administrators
And they keep on coming...
Just been to Stockport and the clothing chain USC has signs up in the window saying that its shops have been placed into administration as of 29 December. A real shame because I loved never buying their overpriced clothing, preferring to take the item number and then order elsewhere.
Thanks to Bitterwallet reader Branny for simultaneously scouring the high street with Deathwatch-tinted glasses, and contributing to the downfall of yet another clothing retailer. The latest press reports state the chain went into administration on Monday; 300 jobs are at risk at the 15 stores being closed. The remaining 43 shops have already being sold off to USC owner and billionaire entrepreneur Sir Tom Hunter.
Clothing stores seem to be in vogue for winding up at the moment, with the collapse of Adams and Morgan in the past week. Further clothing outlets are likely to fall; plenty rely on products manufactured in the Far East where the US dollar is king, leaving UK outlets with their crumbling sterling up a certain creek without a certain paddle.