Jane Norman, the struggling High Street fashion chain, has gone into administration, putting 1,600 jobs at risk.

Zolfo Cooper, the accountancy firm, has been appointed administrator to the 90-store chain which was put up for sale by its banks earlier this month following a period of poor performance.
Reports suggest the company is being readied for sale via a controversial pre-pack administration. A pre-pack allows the company to be sold without its £140m of debts.
A statement from the administrator is expected shortly.
A number of possible buyers have been put in the frame, including Debenhams and Edinburgh Woollen Mills.
Clothing retailers across the High Street have been hit hard in recent months.

Gloom surrounding the general downturn in the consumer economy has been compounded by hot weather and a flurry of bank holidays, which have hit trade.
According to figures from accountant BDO, fashion sales fell 10.4pc in the week ending May 29. Within that, clothing sales slumped 11.2pc and footwear sales dropped by 4.9pc.
It is thought that even large High Street fast-fashion retailers have found the going extremely tough over recent months.
Jane Norman was founded in 1952 in London. The chain used to be owned by Baugur, the Icelandic investor, and Kaupthing, the bank. Both institutions collapsed during the credit crisis and the chain is now majority-owned by a consortium of around 15 banks.

 

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