Press statement - Republic (UK) Limited and Republic (Retail) Limited (In Administration)
Republic (UK) Limited
Republic (Retail) Limited
13 February 2013: Hunter Kelly, John Sumpton and Alan Hudson of Ernst & Young LLP, were today appointed Joint Administrators of fashion retailer, Republic (UK) Ltd and Republic (Retail) Limited.
Headquartered in Leeds, Republic operates 121 stores across the UK and employs around 2500 people.
The business began as a men's denim retailer in 1986 under the Best Jeans brand in Leeds. It currently offers casual fashion, under multiple brands to young adults, including Jack Jones and SoulCal.
Joint Administrator, Hunter Kelly said: “Republic suffered poor trading results in the Autumn, and whilst sales picked up in December there has been a sudden and rapid decline in sales in late January.
“The impact on cash flows has resulted in the business being unable to continue to operate outside of an insolvency process. Unfortunately, it has been necessary to make 150 employees at the head office in Leeds redundant.
“We will continue to trade Republic, with a view to selling the business as a going concern. The brand Republic is well recognised, particularly in the North. It has a powerful website offering, owns well-known brand names, and has some very attractive and profitable stores.
“We are grateful for the continued support of all employees and customers during this time, and would like to thank everyone at Republic for their commitment and hard work as the business continues to trade.”
EY have set up a helpline and e-mail address for customers with enquiries – 0113 298 2450 / email@example.com