Leonard Curtis rescue Mark One business from administration
25/11/2008
Administrators Neil Bennett and Michael Healy of Leonard Curtis have succeeded in selling the bulk of the business of Mark One, the fashion retailer, currently in administration. Appointed administrators to the 125 stores on Wednesday 19 November 2008 Neil Bennett has today (25 November) announced the sale of 85 of the stores with a consequent saving of around 800 jobs to Internacionale Retail Limited.
"We are delighted to say that we have been able to sell the bulk of this business within a matter of days" says Mr Bennett "and we have been able to save the jobs of well over half of the employees. This also means that, further down the chain of suppliers, other jobs will be saved. Unfortunately in the process we will have to close the head office in Acton which will result in some job losses. We are evaluating the remaining stores although if purchasers cannot be found these may also have to close.
"We believe that this time the new business has a strong future and we wish management and staff every success," concludes Mr Bennett.
ENDS
Note to Editors
1. Mark One, originally founded in 1985, had already been placed into administration in May this year.
2. In May the business was bought from the administrators and relaunched.
