Newry store to close following D2 administration | Latest Newry News, Newry Sport and Newry Business for Newry City

Newry store to close following D2 administration

Clothing store D2 has this week gone in to administration, already making 200 staff redundant and sparking fears that more jobs could go in the near future. It is the second time in just two years that the company has faced administration, however last time over 40 stores were saved through buy outs.

Administrators have closed 19 stores across the UK and the store in Newry is among the few facing closure. Along with Newry, several other Northern Ireland branches will close including four Belfast stores, two Bangor stores as well as stores in Lisburn and Omagh.

BDO LLP administrator James Stephen said,¬†“It is unfortunate that the economic climate and extremely difficult trading conditions have significantly affected the retail sector.¬†However, we are hopeful of securing a sale of all or part of the business and will continue to trade the business while this is explored.”

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Posted by on Dec 29 2011. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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