Top

Local job losses as fashion chain Exhibit goes into administration

October 24, 2016

The local retail sector suffered further job losses last week as fashion chain Exhibit called time on its trade, closing its chain of stores across Northern Ireland.

The company – which was previously owned by Colin Rankin, older brother of celebrity chef Paul Rankin – has 14 stores in the North, including one in the Buttercrane Shopping Centre in Newry.  More than 100 staff across the province will lose their jobs as the company appointed liquidators last week and shut up shop for good.

The low cost high fashion outlet has been in existence in Northern Ireland since 1983 and is believed to be a favourite among a number of high profile stars like Nadine Coyle, Davina McCall and Christine Lampard (Bleakley).

A statement released by joint administrators James Neill and Rachel Foster of HNH Group said the appointment “highlights the continued difficulties experienced by independent retailers on the high street.”

“An immediate assessment of the financial position of the company and its assets is currently being undertaken. Once this is complete the joint administrators say they will have a clearer picture of the future options available to them,” the statement continued.

“Our immediate priority is to communicate with the key stakeholders of the business, including employees, creditors and landlords.”

HNH Group, also said Cucco Retail Limited, which trades as Exhibit, had been affected by a general downturn in trading conditions and a change in consumer spending patterns.

Staff across the Northern Ireland stores are said to be shocked at the news with many only being informed on Monday night that their branch would not be open for business on Tuesday.

The Buttercrane branch has already closed leaving a number of young retail workers suddenly unemployed  in the run up to the festive season.

Bottom