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Thetford shop in trouble after brand goes into administration

A high street fashion retailer with a store in Thetford has gone into administration.

Select, has confirmed it called in administrators due to 'ongoing financial difficulties'.

The brand has 169 stores across the country and employs around 1,800, including in its King Street shop.

It is hoped that the jobs could be saved as Quantuma, the administrators for the chain, are hoping to sell it as a going concern.

Select has 169 stores nationwide including the shop in Thetford (10019112)
Select has 169 stores nationwide including the shop in Thetford (10019112)

Andrew Andronikou, joint administrator at Quantuma, said: “We will continue to trade Select whilst we assess all options available to the business, with the aim of achieving the optimum outcome for all stakeholders.

"Options include a sale of the business as a going concern, in addition to entering into discussions with those parties who have already expressed interest in acquiring the business.

Quantuma are currently assessing CVA proposals - a company voluntary arrangement - which would see negotiations take place with creditors and landlords in order for it to continue trading.

The blow to the high street comes just weeks after Debenhams confirmed it was shutting stores as part of a rescue deal.

Select targets 18 to 35-year-olds with up to 4,000 fashion products, and has an annual turnover of £77m.

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