Over 300 jobs at risk as Bradford menswear retailer Greenwoods goes into administration
Greenwoods, the Bradford-based menswear retailer, has gone into administration, putting over 300 jobs at risk.
The retailer, which was founded by Sir Willie Greenwood in 1860, appointed Deloitte as administrators.
During the 1990s, Greenwoods boasted around 200 stores nationwide but this number has decreased to 65.
Last year, it is believed the retailer recorded a turnover of around £20m.
Greenwoods first entered administration back in 2009, but it was saved when a Hong Kong-based business bought 87 stores from the administrators.
Earlier this week, Adrian Berry and Claire Boardman of Deloitte LLP were appointed as joint administrators.
No redundancies have been announced and the retailer is continuing to trade as normal.
In a statement, 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.”