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Trade News Archive 2009 January February March April May June July August
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28th August 2009
'Slow trading conditions' sees schoolwear retailer fold
A well-established school uniform retailer has gone into administration following recession-related falls in sales.
JB Ward and Company (JBWC) has called in London-based administrators David Rubin and Partners to try and sell on its failing stores.
The company's eight shops and 60 staff will continue to trade while their long-term futures are determined.
Company directors have said that the business went under as a result of "the current economic climate and slow retail trading conditions", according to kentonline.co.uk.
A further contributing factor to the company's demise could have been its struggle to compete with the ever-lowering prices of school uniforms from supermarkets such as Asda and Tesco, suggests fashion news website Drapers.
The Daily Mail has reported that while a number of the stores have been the subject of buyer enquiries, no offers have yet been made for the company itself.
(c) 2009
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