Store Twenty One
 | |
| Industry | Fashion |
|---|---|
| Founded | London, England (1932) - 2017 (liquidation) |
| Headquarters | Solihull, West Midlands |
Number of locations | 125 - ceased trading July 2017 |
Area served | United Kingdom |
| Products | Clothing |
| Website | www.storetwentyone.co.uk in liquidation july 2017 |
Store Twenty One was a discount clothing and homeware retailer in the United Kingdom.
It entered compulsory liquidation on 11th July 2017. Store twenty one had suffered from poor sales/trading conditions for quite some time and all stores ceased trading in July 2017 as the owners "Grabal Alok" were not able to secure extra funding to keep the company going.
History
Store Twenty One was created by Grabal Alok, the Indian-owned textile manufacturer that bought parts of the QS Stores (formerly Quality Seconds) and Bewise chains that went into administration in 2006.
Currently, the business has 125 stores nationwide and its head office is based in Solihull, West Midlands.[1]
The business sells a selection of fashion and homeware at discounted prices.
In July 2016 it was reported that Store Twenty One was facing financial difficulties and that some stores were closing down, as it faced going into administration in August if no agreement in reducing rents was agreed.
In July 2016 It was proposed and agreed that company voluntary arrangement action be taken.[2]
In May 2017 it was reported that Store Twenty One was on the brink of going into administration for the second time due to poor trading conditions and the bank has withdrawn extra funding. A total of 77 stores will be closed over the coming months.[3][4]
References
- ↑ "Store Twenty One - About Us". Retrieved 8 May 2015.
- ↑ GEOGHEGAN, JILL (18 July 2016). "Store Twenty One to close chunk of stores as CVA is approved". Drapers. Retrieved 21 May 2017.
- ↑ "Store Twenty One expected to shut nearly 80 stores as CVA approved". Retrieved 20 July 2016.
- ↑ Armstrong, Ashley (20 May 2017). "Store Twenty One on brink of collapse after bank withdraws support". The Telegraph. Retrieved 21 May 2017.