Greenwoods goes into administration

Menswear chain Greenwoods has gone into administration but its shops - including one in Morecambe - are trading as normal.

Friday, 8th September 2017, 12:14 pm
Updated Monday, 11th September 2017, 12:06 pm
The Greenwoods shop in Morecambe town centre.

The firm, which has its headquarters in Bradford, has appointed Deloitte LLP as administrators.

Greenwoods stores, including the menswear and suit hire shop on the corner of Euston Road and Marine Road Central in Morecambe, remain open and trading.

A sign in the window says: "Adrian Berry and Claire Boardman of Deloitte LLP were appointed Joint Administrators on September 6 2017."

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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."

The company was founded as a hat shop by Sir Willie Greenwood in 1860, and the first branch was in Bradford. By the 1990s, there were 200 stores, although this number has since fallen to around 80.

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

The current HQ is on the Shipley Airedale Road, having previously been at Albion Mills.

The brand experienced a revival recently when it launched a range of slim-fitting formalwear targeted at younger customers.

The Greenwoods store on Market Street in Lancaster closed in January 2016 due to high rent meaning the store was no longer viable.