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30/01/2018

East falls out of fashion and into administration

East falls out of fashion and into administration

East, the bohemian fashion retailer, has tumbled into administration, putting 314 jobs at risk.

The retailer, which was founded in 1994, has 34 shops and 15 concessions in department stores across the country after an earlier insolvency process three years ago slashed its store estate.

In 2015, the brand which is known for its colourful, Indian block print designs, closed 15 stores and five concessions in a pre-pack deal designed to offload loss-making shops and give it a more secure future.

However, the tough trading environment which has seen shoppers rein in their spending and high street footfall plummet has meant East has now appointed administrators at FRP Advisory, the firm handling the demise of BHS.

The number of retailers toppling into administration rose in 2017 for the first time in five years as companies struggled with rising wage costs, a weaker pound and soaring business rates. Furniture businesses Feather & Black and Multiyork collapsed at the end of November, taking the number of retail casualties to 118 in 2017, a 28pc increase to 2016, according to Deloitte figures.

Geoff Rowley, joint administrator, said: “Unfortunately East is the latest high street casualty following a tough trading period at the end of last year."

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