Birmingham shops close as fashion chain collapses The Shirley based group has been battling losses for several years and has now closed all of its shops10:16, 12 JUL 2017Updated14:32, 12 coach bags on sale online JUL 2017Get daily updates directly to your inbox+ SubscribeThank you for subscribing!Could not subscribe, try again laterInvalid EmailBeleaguered fashion chain Store Twenty One has collapsed into compulsory liquidation.
Simon Bonney, Carl Jackson and Paul Zalkin, partners at corporate recovery and business advisory firm Quantuma, have been appointed to handle the liquidation.The Shirley based retailer had been battling for survival after failing to secure investment following a company voluntary arrangement (CVA) in July 2016 which saw the closure of 77 shops.The latest decision meant the closure of Store Twenty One's remaining 122 stores and the loss of 900 jobs at the end of last week prior to Quantuma's appointment.Among the affected stores are shops in Perry Barr, Erdington, Kings Heath, Northfield, Shirley, Chelmsley Wood and Sheldon.In April, the company's management filed a notice to appoint administrators after Store Twenty One was served with a winding up notice by HM Revenue Customs for breaching the terms of the CVA.This administration application was withdrawn but a second application was made in June and again withdrawn prior to the court finally issuing an order to wind the company up.Start searching for your new job today with Fish4Jobs Mr Bonney said: "It is very sad that matters have got to the stage where all the stores were closed by management on Friday following a prolonged period of uncertainty leading up to the liquidation."We are now in the process of conducting an orderly wind down and we would coach outlet sale kitchen welcome contact from any interested parties who may wish to purchase assets of the company."Store Twenty One's turnover in recent years declined from million to million with sustained losses over the past few coach outlet coupons 97477 years.200 jobs on offer at new shopping developmentFollowing the winding up order, the case was passed to the Official Receiver's office and a Secretary of State appointment of Quantuma as liquidators quickly followed.
Mr Bonney added: "The traditional retail sector continues to face significant challenges, not least with the changes in business rates."The company was founded in 1932 and unfortunately it is another example coach outlet atlanta outpatient of the difficulties arising in the current economy."Like us on FacebookFollow us on TwitterDaily NewsletterallMost ReadMost RecentInvest in BirminghamParadise unveils vision for landmark building at end of Broad StreetDevelopers behind Birmingham city centre regeneration scheme to showcase next stage of major project at public exhibition next month.
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