Monday 26 January 2015

Administrator appointed to fashion chain Republic

Published 13/02/2013 | 12:09

Republic is expected to become the latest high street chain to collapse into administration
Republic is expected to become the latest high street chain to collapse into administration

Fashion chain Republic has collapsed into administration putting 2,500 jobs at risk, mainly in Britain.

The company also has branches in Blanchardstown and Liffey Valley.

Ernst & Young, administrator to the Leeds-based group, said the 121 shops would continue to trade while it looks for a buyer for the business.

Republic, which started as a men's denim retailer in 1986 under the Best Jeans brand in Leeds, was hit by a "sudden and rapid decline" in sales at the end of last month after poor trading results over the autumn.

Ernst said it had made 150 staff redundant at Republic's headquarters in Leeds.

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.

He added: "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."

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