Unlike other convenience chains, the Group did not benefit during the pandemic from increased footfall, it has suffered from supply shortages, heavy debts and has been hit by the high cost of converting its stores to the new Morrisons brand. The Group operates 1,300 convenience and newsagents stores throughout Great Britain, employing as many as 16,000 workers. McColl's Retail Group, the chain of convenience stores and convenience/newsagents (CTN) trading as R S McColl, McColl's and Morrisons Daily, went into adminstration early in May 2022. It was reported in August that only 2p in the £1 (£0.6m) of the £30m owed by Missguided to trade creditors when it went into administration will be repaid. One-quarter of the 320 staff have already been made redundant - by recorded telephone call. Teneo will continue to run Missguided for eight weeks, after which Frasers will run Missguided as a standalone brand. Missguided's assets are being sold by administrators, Teneo, Frasers (the Sports-Direct-House-of-Fraser group) bought the Missguided intellectual property and associate company, Mennace for around £20m the day after Missguided went into administration. Missguided was then put into adminstration to protect itself from its creditors. Sales were affected when physical stores reopened after Lockdown ended. The company was reported to owe large sums of money to suppliers, several of whom applied for permission to have the company wound up. Last year similar problems led to Missguided being supported by Alteri, who tried to sell the company in April and May this year, but no buyer could be found. Since it started the company enjoyed strong growth, particularly in the pandemic when most clothing stores were closed. Missguided, the e-commerce fashion group oriented towards younger women, went into administration at the end of May 2022. The franchisees continue to trade and the website is still open. Trading was difficult during covid and the increase in supply prices for raw materials in 2022 led to losses of more than -£0.359 million in the current financial year. It was founded in Ilkey in 2009 and expanded rapidly, with franchise outlets, a new bakery and a large store in Leeds. Love Brownies, a Yorkshire cafe and bakery business has gone into liquidation with the loss of 70 jobs.
This sector is not as easy to succeed in as first appeared. Operating margins are tight in a structure where cars have to be collected, prices agreed, valeted and 'improved', then sold on. A fall in the share price also made it inmpossible to raise new capital to keep the business going. Supply troubles and intense competition for new models and quality-condition second-hand cars made it hard to acquire sufficient stock. Only 17 staff members are to transfer to the new owner.Ĭarzam, the online car retailer set up in 2020 to disrupt the automobile sector, went into administration in June 2022. Hunt's is a major supplier of Foodservice, Retail and Natural products to retail and other service sectors. At the beginning of September, it was announed that the Health Store brand and its assets have been sold to Hunt's Food Group Limited. Trying to raise longer-term capital has meant that the annual returns of Tree of Life and other parts of the HME Group to Companies House are late.
The Health Made Easy subsidiary went into adminstration a few days later. According to The Grocer Tree of Life is part of the £100m Health Made Easy Group, which also has wholesale and retail operations. Health Stores (Wholesale) Limited also went into administration. Sales were £50m+, but heavy losses have been incurred in the most-recent year. Tree of Life, the largest wholesaler oriented towards health and lifestyle, went into administration towards the end of August 2022. It appears that since the pandemic, the Centre has lost twenty stores that have closed. The Centre covers 630,000 square feet and combines the former St Nicholas Shopping Centre (opened 1985) with the next-door Bon Accord Shopping Centre (opened 1990). Further discussion can be found at the bottom of this webpage in the section headed 'What's Included and Excluded'.īon Accord Shopping Centre, Aberdeen, continues to trade, but its current owners ( Capreon Limited) went into administration early in September, 2022. It should not be taken as meaning that the business has not survived or is no longer trading, because many do so or continue as online-only. Where a business is named, below, this normally means it has gone through a legal process termed 'administration'. They refer ONLY to the UK and only include retail companies - not American businesses and not restaurants, cafes or food services. Please Note: the figures given above are provided as a measure of the stresses faced by the retail sector in any given year.
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