Wednesday, December 31, 2008

Not all roses in the world of Fashion

After a month in which Woolworths, Zavvi, Whittard and The Officer’s Club have all been forced to throw in the towel, nobody can be in any doubt about how tough things are for retailers...

Now USC are to go and have blamed the economic climate for its sliding sales. The fashion chain, which has been owned by Sir Tom Hunter’s West Coast Capital vehicle since 2004, said yesterday that it has agreed a pre-pack deal with administrator PKF that will see it close 15 stores, with the loss of about 300 jobs. "Ultimately we had to ask ourselves, what's better - the loss of 15 stores or all 58?" said Sir Tom's partner Jim McMahon. "The answer was unequivocal." but will losing 15 shops save USC? We will have to wait and see.

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