UK vogue retailer falls into liquidation with 35 excessive road shops to shut
Select Fashion has been steadily shutting down its shops since January and will shut its remaining 35 this week in a move that highlights the ongoing struggles facing UK retailers
A UK fashion retailer fallen into liquidation with all 35 of its remaining high street stores set to close this Friday (March 28).
Select Fashion has been gradually closing its doors since January, a trend that painfully underscores the difficulties plaguing retailers in the UK. The brand, previously embracing a company voluntary agreement with Moorfields, is now undergoing liquidation managed by the same restructuring specialist. Turkish businessman Cafer Mahiroglu’s firm once boasted a presence with 169 stores and had been a familiar sight on British high streets for nearly four decades.
Just last week, reports surfaced that advisors had been called in to steer Select through the liquidation process, a development that will reportedly affect “hundreds of staff”.
It had previously fallen into administration in 2019, which the retailer blamed on tough high street conditions, but they were bought out by Genus UK Limited.
According to The Sun, staff members may not receive redundancy pay as a result of its financial collapse.
Last summer saw the company enter into a Company Voluntary Arrangement (CVA), which is essentially a formal deal struck between a company and its creditors to settle debts over a designated period.
The list of stores that will be closing before the end of March 2025 include:
- Accrington
- Ashington
- Ashton-under-Lyne
- Birkenhead
- Bletchley
- Bristol Broadmead
- Bristol Broadwalk Shopping Centre
- Chippenham
- Coalville
- Cowley
- Crewe
- Eastleigh
- Hartlepool
- Hatfield
- Hemel Hampstead
- Hull Hessle
- Hull St Stephen’s
- Kidderminster
- Merthyr Tydfil
- Middlesbrough
- Newport
- Peterlee
- Port Talbot
- Preston
- Runcorn
- Scarborough
- Scunthorpe
- South Shields
- Southampton
- Thornby
- Torquay
- Wellingborough
- Witham
- Wolverhampton
- Worksop
Select isn’t the only fashion retailer shuttering stores this year. New Look has also declared its intention to close outlets, with nearly a quarter of their locations under threat. The brand further announced its complete withdrawal from the Republic of Ireland following the liquidation of its Irish division.
This follows reports that the fashion chain was considering accelerating plans to close approximately 100 stores due to the impact of recent Autumn Budget tax amendments.
The news comes as Morrisons said it is preparing to shut down 17 stores and 52 cafes in a surprise announcement. In addition, several in-store services will be discontinued due to financial pressures. Morrisons has also indicated that 365 jobs could be jeopardised by these closure plans. A significant number of meat and fish counters at its stores are also set to be removed in this major shift.
At present, the supermarket giant has confirmed the closure of 18 market kitchens, 13 florists, 35 meat counters, 35 fish counters and four pharmacies.
Morrisons’ Chief Executive, Rami Baitieh, has commented on the plans, asserting they will transform the business for the better and facilitate investment in other areas.
