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Latest Issue: Nov/Dec 2018

Bags Etc in administration

The 58 outlets operated by Bags Etc under its own and the Domo name are to be closed as the business has entered administration. The luggage and accessories retailer employed 350 staff was founded in 2003. It had called in CVR Global as liquidators and CVR's Elias Paourou commented: "Over recent years the retailer suffered with a number of stores in its portfolio that were loss-making as consumers congregated to stronger, premium and central shopping centres, resulting in its stores losing significant traffic flow. In addition, the shift in consumer behaviour towards online platforms also provided a detrimental effect on overall sales via stores."