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Saving For a Space Ship

Retailer Lakeland In Administration - Another Pre-Pack Deal

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Don't recall this getting a mention.

From 4 days ago

http://www.newsandstar.co.uk/news/business/jobs-under-threat-as-fashion-retailer-lakeland-goes-into-administration-1.1142863

The fashion retailer Lakeland has gone into administration, putting 200 jobs at risk.


The Ambleside-based chain, which trades as Lakeland and Leather Fine Leather, operated 22 stores including outlets in Carlisle, Keswick and Gretna Gateway.

It blames its collapse on high lease costs and mild weather last winter, which hit sales.

Although the administrator has already sold the business in a so-called “pre-pack” arrangement, four stores at K-Village in Kendal, Spalding, Gloucester and Antrim closed immediately.

The other 18 have “closing down sales” and face an uncertain future.

Edited by Saving For a Space Ship

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I wonder what the statistics of success are for the new companies that rise from pre-packs? We've had a few, and they must have a degree of success or they wouldn't happen.

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It blames its collapse on high lease costs and mild weather last winter, which hit sales.

I suppose that is better than:

"We went bust because our predictable costs were high, the rest we put down to the weather. Not my fault, not my fault, not my fault, can I have another go please."

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