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Jobs to go as Internacionale store in Bradford is wound down
7:00am Saturday 1st March 2014 in News
Ten staff at a Bradford city centre women’s clothing shop are among more than 100 across Yorkshire whose jobs are at risk after administrators said they were winding down the chain.
Bruce Cartwright, Lyn Vardy and Toby Underwood of PwC were appointed as administrators of Internacionale UK, which includes a branch in Bradford’s Kirkgate Centre and has 89 stores across the UK employing 1,000 staff.
It was formed from the administration of a predecessor business in 2013. However, administrators said as the economy remained flat, the company has not enjoyed the anticipated growth and recovery.
The planned wind-down will affect 25 stores and 324 staff in the north of England .
Mr Cartwright said: “The company directors have worked with key stakeholders to try and find a solution to preserve the business.
“However, these efforts have proved to be unsuccessful against the backdrop of a fiercely competitive retail sector which, despite the improving economic conditions, can be unforgiving to businesses in financial distress.
“We are currently working with management to agree an orderly wind-down of the company, but we welcome any approaches to purchase parts of the store portfolio and safeguard jobs. We intend to continue to trade over the coming weeks in order to sell as much of the retail stock as possible and maximise the return to creditors.”
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