Hull's Debenhams to lose two leading brands as company enters administration
Precis and Jacques Vert in Debenhams
By Hull Daily Mail | Posted: 5 Jul 2018
Two leading concessions within Debenhams in Hull have announced that they are to close, leading to the loss of more than 800 jobs across the UK.
Calverton Brands, which runs both Jacques Vert and Precis, has announced that all of its 102 concessions in the country will close after administrators failed in their attempts to find a buyer.
Administrators Duff and Phelps had been trying to secure fresh investment since the company first fell into administration in May.
In total, there will be around 500 retail redundancies in the UK from the latest announcement, plus hundreds more in Canada.
The concessions trade side-by-side on the first floor of Debenhams but they will now have to find new companies to trade from the space.
Benjamin Wiles, joint administrator at Duff & Phelps, said: "We have explored a number of potential options, however no viable offers for the business as a going concern have been received.
Debenhams in Hull
"Calvetron Brands has faced the perfect storm of extremely difficult trading conditions on the high street, rising costs and low customer confidence all of which hindered our ability to secure a buyer."
The latest closure comes just weeks since House of Fraser announced that it would close its store in Ferensway and in the same year that Toys ‘R’ Us and Maplin went out of business.
Kapow in Whitefriargate also announced its closure last month, while Poundworld, which has three stores in Hull, entered administration.
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