This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-21431753
The article has changed 6 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Republic chain faces administration | |
| (about 13 hours later) | |
| Fears are growing for the future of the clothing chain, Republic. | Fears are growing for the future of the clothing chain, Republic. |
| Sources say the Leeds-based retailer, which has around 120 stores and employs some 1,000 staff, is poised to enter administration. | Sources say the Leeds-based retailer, which has around 120 stores and employs some 1,000 staff, is poised to enter administration. |
| After undergoing rapid expansion about 10 years ago, it has since seen sales slacken off. | After undergoing rapid expansion about 10 years ago, it has since seen sales slacken off. |
| The group is reported to have already lined up the business services firm Ernst & Young to handle the administration. | The group is reported to have already lined up the business services firm Ernst & Young to handle the administration. |
| The company focuses on the youth fashion market, which is fiercely competitive and under pressure. | The company focuses on the youth fashion market, which is fiercely competitive and under pressure. |
| If it does appoint administrators, it will be following in the footstep of a list of High Street stalwarts. | If it does appoint administrators, it will be following in the footstep of a list of High Street stalwarts. |
| These include the music retailer HMV, the camera group Jessops and the DVD and games rental company, Blockbuster. | These include the music retailer HMV, the camera group Jessops and the DVD and games rental company, Blockbuster. |
| Republic is owned by the private equity firm TPG, which bought the company in 2010 in a deal thought to be worth about £300m. | Republic is owned by the private equity firm TPG, which bought the company in 2010 in a deal thought to be worth about £300m. |
| It began selling denim clothing in Leeds in 1986 and since then has grown to supply both men and women with clothing brands including G-Star, Diesel and Firetrap. | It began selling denim clothing in Leeds in 1986 and since then has grown to supply both men and women with clothing brands including G-Star, Diesel and Firetrap. |
| Its chairman, Andy Bond, who was a former boss of Asda, is said to have left the company last week after two years. | Its chairman, Andy Bond, who was a former boss of Asda, is said to have left the company last week after two years. |