Select in administration
Fashion retail chain Select has entered administration having failed to turn the business around following its CVA in April 2018. Select operates from 169 stores and has around 1800 employees. The administrators are seeking a buyer and will trade the business in the short term.
Andrew Andronikou of Quantuma stated: "Due to ongoing financial difficulties Select was unable to sufficiently deliver on a turnaround plan it had embarked upon. Options include a sale of the business as a going concern, in addition to entering into discussions with those parties who have already expressed interest in acquiring the business."