Fashion retailer Store Twenty One – which has a number of sites in the North East – has gone into liquidation, resulting in the loss of 900 jobs.
Its owner, Indian manufacturing giant Alok Group, failed to secure investment for the chain following a Company Voluntary Arrangement (CVA) in 2016.
As a result, corporate recovery firm Quantuma has been appointed to handle a liquidation process, which will see the closure of 122 stores and the loss of 900 jobs.
The company has shops in Alnwick, Blyth, Chester-le-Street, Jarrow , Stanley, Peterlee and Houghton-le-Spring.
The loss-making company has found high street trading tough in recent years and its owners have struggled to keep the firm afloat.
Quantuma partner Simon Bonney sa…
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