What Has Happened To MK One?
After being sold just three weeks ago it seems as though the future of clothing store MK One is again in the balance. It has been announced that the company has gone into administration with substantial debts and left many of the company’s suppliers furious. Many had thought that the sale to retail recovery specialist Hilco just 3 weeks ago had safeguarded the company’s immediate future but things seem to have turned sour very quickly.
While the administrators have asked many of the 2,500 strong work force to stay on while they try to find a buyer the whole saga seems to be getting stranger by the hour. There are strong rumours doing the rounds that the administrators already have a deal lined up which will see 110 of the 172 store portfolio taken over by a new company. Is Hilco coming back to cherry pick the best stores?
Originally owned by retail conglomerate Baugur, the demise of MK One seems to be a strong reflection of current difficulties on the high street. Slowly but surely some of the best known names in retail are disappearing from the high streets of the UK and analysts predict there will be more blood letting before the economy picks up.
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