East fashion chain in administration
The fashion chain East, which has a store in Buttermarket, Bury St Edmunds, went into administration on Monday.
East first opened its doors in London in 1994 and operates 34 stores and 15 concessions, employing 314 staff across the UK. The retailer continues to trade while the Joint Administrators evaluate options for the sale of all or parts of the business.
It has appointment of Geoff Rowley and Phil Armstrong, partners at specialist business advisory firm FRP Advisory, as joint administrators.
Mr Rowley said: “Unfortunately East is the latest high street casualty following a tough trading period at the end of last year.
“The retailer was making progress to expand its footprint, particularly looking at international opportunities, however it has been unable to secure the necessary funding to realise those plans.
“We’re now working closely with all stakeholders to evaluate the options to sell all or parts of the business.”
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