Coast goes into administration – but Sussex concessions saved

News in Sussex
News in Sussex

Clothing retailer Coast – which has three Sussex outlets – went into administration this week.

Around 600 jobs were saved when Karen Millen took on some of the business, which included department store concessions, but administrators confirmed that 24 stand-alone stores were not involved in the sale.

Coast, which sells premium occasion wear, has concessions stores in Brighton and Crawley as part of Debenhams, and in House of Fraser, Chichester.

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Mike Denny, joint administrator and PwC director, said: “The businesses had been facing financial difficulties due to structural challenges in the retail space and specifically the concession partner market, as well as a softening of demand for occasion wear.

“This sale puts the ongoing business on a firmer financial footing. Karen Millen will be working with the existing management team to continue to grow and develop the new business.

“Regrettably, other parts of the business including 24 retail stores were not included in the transaction. We will make every effort to help those employees in parts of the business that were not included in the sale and will support those affected at this difficult time by liaising with the Redundancy Payments Service and Job Centre Plus.”

Other companies with Sussex stores that went into administration this year include Maplin and Toys R Us.