Chichester city centre store goes into administration
Footwear and fashion retailer tReds, which operates a store in Chichester's North Street, was taken over by administrators Ross Connock and Zelf Hussain of PwC on Tuesday (January 29).
A spokesman for the administrators said there were no plans to make any redundancies, including to the eight employees at the Chichester branch.
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Hide AdRoss Connock, PwC director and joint administrator, said: "The business has faced similar challenges to those seen across the retail sector, including changing consumer behaviour and economic uncertainty. This has resulted in reduced revenues across the store portfolio. Despite the best efforts of management, there was unfortunately no alternative but to place the partnership into administration.
"All staff remain employed as normal and we are continuing to trade the business in the coming days while we assess the trading strategy and explore any interest in the business".