Type
Bankruptcy
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Wholesale / Retail
Retail trade
Retail sale of other goods, except motor vehicles and motorcycles
47.71 - Retail sale of clothing

200 jobs
Number of planned job losses
Job loss
Announcement Date
19 November 2013
Employment effect (start)
Foreseen end date

Description

Retailer Tie Rack is to close its 44 UK stores with the possible dismissal of all 200 staff.

The initiative is the result of an ongoing decline in sales since 1998.

The firm is a subsidiary of Italian-based Fingen group. Tie Rack operated 450 stores within the UK at peak times.


Sources

  • 19 November 2013: The Guardian

Citation

Eurofound (2013), Tie Rack, Bankruptcy in United Kingdom, factsheet number 76212, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76212.