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

300 jobs
Number of planned job losses
Job loss
Announcement Date
11 October 2018
Employment effect (start)
Foreseen end date

Description

Women's fashion retailer Coast has entered administration which has resulted in the immediate closure of its 24 outlets. Karen Millen has bought some parts of the business meaning that its concession stalls in department stores and its website will continue to operate. Approximately 600 staff will transfer to Karen Millen with the remaining 300 staff facing redundancy. A number of Coast concessions operated in House of Fraser stores and the business was thought to have been owed money following that chain'sĀ collapse.


Sources

Citation

Eurofound (2018), Coast, Bankruptcy in United Kingdom, factsheet number 95811, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/95811.