Chichester city centre store goes into administration

A Chichester city centre store has gone into administration as a result of 'reduced revenues'.

Footwear and fashion retailer tReds, which operates a store in Chichester's North Street, was taken over by administrators Ross Connock and Zelf Hussain of PwC on Tuesday (January 29).

tReds in Chichester's North Street

tReds in Chichester's North Street

A spokesman for the administrators said there were no plans to make any redundancies, including to the eight employees at the Chichester branch.

Ross Connock, PwC director and joint administrator, said: "The business has faced similar challenges to those seen across the retail sector, including changing consumer behaviour and economic uncertainty. This has resulted in reduced revenues across the store portfolio. Despite the best efforts of management, there was unfortunately no alternative but to place the partnership into administration.

"All staff remain employed as normal and we are continuing to trade the business in the coming days while we assess the trading strategy and explore any interest in the business".

tReds operated 21 stores across the UK and also sold online. Its head office and warehouse is in Weymouth, Dorset. The business employs 165 staff.