Qualified advisers answering your
Financial Questions
call 0800 092 1245

D2 Jeans announces move into administration

Today saw the first post-Christmas casualty in the UK retail sector when D2 Jeans, the company set up by Sir Tom Hunter, announced a collapse into administration. The company was acquired by a management team back in January 2008 although there have been concerns for some time about the company's rental arrangements which were considered to be relatively high and were causing financial difficulties for the company.

D2 Jeans has 76 stores across the UK and while there are potentially 800 jobs under threat, the administrator BDO has confirmed there is sufficient stock to allow the company to continue trading in the short term. There have also being seven potential expressions of interest in the group and while hopes are high that a takeover can be arranged over the coming days and weeks this is by no means certain. It may take a potential bidder with deep pockets and plenty of liquidity to run the operation because it is unlikely that the UK banking sector will be very forthcoming with funding.

Recent results from the group show that it made a loss of £2.9 million last year and a loss of £1.9 million the year before. This is not the first casualty from the stable of Sir Tom Hunter as even the best business people and entrepreneurs in the UK continue to struggle in the current economic environment.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details