Derbyshire Based Textiles Company Goes Under After Collapse Of BHS
26 May 2016, 13:27
Two Derbyshire suppliers to stricken retailer BHS have fallen into administration, resulting in the loss of 350 jobs.
Administrators to Derbyshire-based CUK Clothing and Courtaulds, which are behind the Pretty Polly tights brand, blamed their collapse on the demise of the department store chain.
RSM said: ``The administration of BHS has added to the challenge of operating within a fiercely competitive market for seasonal products.
``This has left the directors with little choice but to place the companies into administration.''
BHS fell into administration in April, putting 11,000 jobs at risk and leaving a #571 million pension fund black hole.
Sean Scorer, national officer of the Community union, said: ``This is absolutely devastating news for all the workers at Courtaulds.
``We had been working closely with the local management to overcome some of the current challenges facing the business but imminent administration was never part of the discussions.''
On Wednesday MPs from the Pensions and Business committees grilled a series of advisers who oversaw the sale of BHS by billionaire Sir Philip Green to twice bankrupt Dominic Chappell.
Greg Tufnell, a former Mothercare boss and the brother of ex-England cricketer Phil Tufnell, has expressed an interest in buying BHS. Mr Tufnell has reportedly secured financial backing from Portuguese investors as administrators Duff & Phelps mull over several bids for the department store chain.