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Store 21 liquidated
Published:  12 July, 2017

Value fashion chain closes remaining 122 stores

Beleaguered fashion chain Store Twenty One has finally collapsed into compulsory liquidation. Simon Bonney, Carl Jackson and Paul Zalkin, partners at corporate recovery and business advisory firm Quantuma, have been appointed to handle the liquidation.

The retailer had been battling for survival after failing to secure investment following a CVA in July 2016 which saw the closure of around 80 shops.

Quantuma partner Simon Bonney said: “It is very sad that matters have got to the stage where all the stores were closed by management on Friday following a prolonged period of uncertainty leading up to the liquidation.

“The traditional retail sector continues to face significant challenges, not least with the changes in business rates. The company was founded in 1932 and unfortunately it is another example of the difficulties arising in the current economy.”