Fashion Retailer, Joy, Rescued by Louche London in a Pre-packed Deal

Posted on 23 May, 2017 by admin

Joy, a fashion retailer, has been rescued by its owner Louche London in a pre-pack deal, despite falling into administration for the seconds time in the last ten years.

Joy,_Albion_Street,_Leeds_(21st_December_2015)

The pre-packaged sales result in the company to reduce the number of their stores throughout the UK from 32 to 20. The majority of the remaining stores are located in London. Furthermore, 78 jobs have been lost during the process, while 230 jobs have been saved.

Several other fashion retailers have faced going into administration in the past few weeks including Jaeger and Twenty One.

Some of the major reasons for the struggles that UK retailers are currently facing include large increase in non-domestic rates tax & rent and the decline of high street as a result of online shops becoming increasingly popular.

Commenting on Joy’s pre-pack deal, Paul Ellison, partner at administrators KRE Corporate Recovery, said:

“With the majority of the retail stores remaining open and with many jobs saved this is an excellent demonstration of why pre-packaged sales from administration will continue to have a place in rescuing businesses.”



Related Posts


Leave a Reply


Recent Posts

Oxford_Street_Selfridges_Christmas_Decorations_2017

Creative Christmas window displays

Toronto downtown skyscrapers

Brief history of skyscrapers

Savvy promotions attract early Christmas sales for retailers

Are savvy promotions attracting Christmas sales for retail stores?

Greenfield developments

Greenfield developments: The facts

facts about converting chapels churches

Things to consider when investing in church or chapel conversions

Lincoln Castle 1068

Exploring Lincoln Castle’s Georgian and Victorian Prison

the leopard inn Burslem

Facts about The Leopard Inn, Stoke-on-Trent

ancient high house Stafford

The majestic Ancient High House in Stafford

retro video game arcades

Retro video game arcades: The comeback

industrial style offices

How to achieve an industrial inspired office

When to decide if a building should be demolished

When old buildings should be demolished

Exploring the largest shopping malls in the world

Exploring the largest shopping malls in the world

Building Management System Benefits

The benefits of having a building management system

how online reviews can destroy a business

Are online reviews destroying the reputation of struggling shops?

How Offering Free WiFi Can Benefit Your Business

How offering free WiFi can benefit your business

Is stockport a hotspot for Businesses

Is Stockport a hotspot for businesses?