Uncertain future for menswear retailer in Peterborough

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Staff at menswear retailer Greenwoods are facing an uncertain future after the company went into administration.

The menswear and formal hire specialist, which has a branch in Long Causeway, has appointed Deloitte as administrators.

The company’s 80 stores are believed to be trading today and no redundancies have been announced.

It is not known how many staff work in the Peterborough store.

Greenwoods previously entered administration in 2009, when a Hong Kong-based investor bought 87 of the 92 shops.

A statement from Deloitte read: “Adrian Berry and Clare Boardman of Deloitte LLP have today been appointed Joint Administrators over Greenwoods Menswear Limited (“the Company”).

“The Company is a retailer of formal and casual menswear, including shoes and accessories, with a c£20m turnover.

“It also offers a formal suit hire service, under the Company’s “1860” brand.

“The Company operates from 63 stores and two concessions throughout the UK, with its head office and warehouse located in Bradford, West Yorkshire.

“At the time of the appointment there were 318 employees, of which 292 work in stores, 15 at the head office and 11 in the warehouse.”

Mr Berry said: “We are currently assessing the options available to the Company, including a potential sale of the business, and are continuing to trade it in the meantime.

“No redundancies are being announced at this stage and we are grateful to the employees for their support at this difficult time.

“This is a challenging time for the UK retail sector, which has affected the Company.”