Menswear company with Hull city centre store goes into administration
Greenwoods in Hull city centre
By Hull Daily Mail | Posted: 8 Sep 2017
The owners of a Hull city centre men’s fashion store have gone into administration, putting jobs under threat.
Greenwoods Menswear, who have a store in Jameson Street, have been trading since 1860 but have now fallen into administration.
The company, headquartered in Bradford, West Yorkshire, have 63 stores nationally, including their stores in Hull and on Promenade in Bridlington .
More than 300 jobs have been placed at risk nationally following the company’s announcement.
Greenwoods Menswear Ltd, which started life supplying hats to the wool barons of the North of England, specialises in the sale and hire of menswear under the brands of Greenwoods.
Last year the company reported a turnover of around £20 million.
The business continues to trade as normal and no redundancies have yet been announced.
The company has appointed Adrian Berry and Clare Boardman, of Deloitte LLP, as joint administrators.
Mr Berry said: "We are currently assessing the options available to the company, including a potential sale of the business, and are continuing to trade it in the meantime.
"No redundancies are being announced at this stage and we are grateful to the employees for their support at this difficult time.
"This is a challenging time for the UK retail sector, which has affected the company."