A fashion outlet in Derry has gone into administration leaving at least 10 staff ‘high and dry” without wages this week.
Exhibit has 14 stores across the North of Ireland including its shop in the Richmond Centre.
The bust company employs around 150 staff.
It has a further two stores in the Republic.
The Derry store is based in the Richmond Centre and was closed today to customers.
The company also had stores in Magherafelt and Coleraine.
Derry Daily tried this afternoon to reach the store manager for comment but the phone was constantly ringing out.
The administrator, HNH Group, said the business had been hit by a general downturn in trading conditions and significant change in consumer spending patterns.
A spokesperson for HNH Group said they were undertaking an “immediate assessment of the financial position of the company and its assets”.
The company, Cucco Retail Ltd, has been trading in the North of Ireland for over 30 years.
It was founded by Colin Rankin, brother of celebrity TV chef Paul Rankin.
His restaurant and cookery businesses went into company voluntary administration (CVA) less than a decade ago after hitting trading difficulties.
Staff said they were told on Monday night that the stores would not be open for business on Tuesday.
They also said they were told they would not be paid as normal on Friday.
One store boss said her workers had been left “high and dry”.
Another member of staff said she found out about the store closures via text message from her manager.
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