Job fears at fashion chain
Future in doubt for 15 Bank staff
Retail staff at Bank are fearing for their jobs after the fashion chain fell into administration this week.
More t han 1500 j obs are at r i sk nationwide, with 15 employees on tenterhooks at the East Kilbride store in the Plaza mall.
The struggling youth fashion chain, which has 13 Scottish stores among 84 nationwide, has been losing money for a number of years.
It was sold by JD Sports to HMV owner Hilco Capital in November. Administrators Deloitte said that all stores remain open, staff have been paid and no redundancies have been made.
The news will come as a huge blow t o East Kilbr i de Shopping Centre management who, l a s t s ummer, used the arrival of the high-profile retailer to reinforce EK East Kilbride’s position as one of the country’s top shopping destinations following a spate of big name store closures.
Deloitte s ai d on Monday Bank has al ready been approached by several parties who have expressed an interest in the business.
Bill Dawson, joint administrator at Deloitte, said: “The administrators are trading as a going concern with a view to progressing these options and seeking further interested parties for some or all of the business.”
Mr Dawson added: “A review of the business has determined that a s ol v e nt t ur naround would not be possible and so its director has s ought t he appointment of j oi nt administrators.
“All stores are open as normal, staff have been paid and additional sale discounts will be implemented later this week.”
A spokesman f or EK East Kilbride said: “This news is clearly concerning. However it is important t o note t he announcement f ro m t he administrators t hat t here are interested parties and all stores are open a s usual . We wil l c onti nue to l i aise with all concerned as the situation progresses.”