Menswear clothing store Greenwoods has gone into administration.
The company, which dates back to 1860, has an outlet in St John’s Streert, Bury St Edmunds.
The company has 63 store in the UK with its head office in Bradford.
Administrators Deloitte said today the stores would continue to trade while options were examined. At the time of administrators being appointed the company employed 318 people.
Adrian Berry of Deloitte sai: “We are currently assessing the options available to the company including a potential sale of the business and are continuing to trade in the meantime. No redundancies arew being announced at this stage and we are grateful to the employees for their support at this difficult time.
“This is a challenging time for the UK retail sector, which has affected the company.”
Greenwoods sells formal and casual menswear including shoes and accessories and has a turnover of around £20 million.