HIGH Street Fashion Brand 35 Stops the liquidation after closing the stores – because the staff will not be paid
The High Street fashion brand exploded after closing 35 stores at the beginning of this month because the personnel were told that they would not get a surplus salary or wages.
It is understood that Moorfields, a bankruptcy company, started a wind of distinguished fashion after a meeting of creditors last Friday to approve a voluntary liquidation.
40 personnel in the affected stores will not be given a surplus package or the stores will be paid for the time they work before they close. Sun Reports.
It is reported that employees in the remaining 48 stores will be postponed.
Some employees were advised to apply for support through the Backup Payment Service (RPS).
A E -Post sent to the personnel reveals how the chain officially says the bust to employees and a ‘delay’ in their wages.
The letter says: ‘Please make sure that your fees will be processed and paid next week.
‘We do everything we can to solve this issue as quickly as possible and to appreciate your understanding at this difficult time.’
After the E -mail, the workers were quietly met after receiving the news, and since then he could not communicate.
Following a meeting of creditors in the afternoon on Friday, the liquidation process of distinguished fashion was initiated by the bankruptcy company Moorfields consultants.
A surplus package will not be given to 40 personnel in the affected stores or paid for the time they work before the stores are closed
More than 13,000 shops closed their doors well in 2024 – an increase of 28 percent in the previous year
Some workers were expected to receive a payment to see them during the weekend, but this was never done.
A source close to the liquidation process, the staff last week at a meeting, the chain was instructed to freeze the bank accounts, he said.
Last week, the brand made a notification that confirms that it appointed Moorfields to perform the liquidation.
The managers in the company suggested that both managers and shareholders would enter the voluntary liquidation of a creditor (CVL), which is the process in which they accept a job that cannot repay their debts.
The liquidation of the chain was made official after the game of creditors at a meeting held last week.
The brand closed 35 of its 83 stores a few weeks ago, 40 with a movement affecting the personnel. At the summit, select 169 stores operated by Moda.
However, 48 distinguished fashion stores will remain trade after being purchased by an unknown business.
Essence Fashion Limited made an undergraduate trade agreement that applied to details last month.
The brand closed 35 of its 83 stores a few weeks ago with a movement affecting 40 personnel. At the summit, choose 169 stores operated by Moda
A director’s report reveals how distinguished fashion entered a language to trade with Essence fashion on February 28, 2025.
This allows the company to use other assets such as specific fashion name and property.
It is not known about Essence Moda, but the documents in the companies’ home reveal that it was first created in February 2024.
The two companies also have the same director and shareholder Emre Gonc.
Choose Moda comes after falling into management in 2019 and the retailer blames tough economic conditions on the high street.
Select Fashion, owned by Turkish entrepreneur Cafer Mahiroğlu, was later purchased by UK Limited Cinus.
According to the latest filed accounts, the company reported before the end of the tax until the end of February 2023.
Previously, the cost of living above a harsh economic climate was stuck by crisis, wage pressure and higher taxes.
Choose the fashion entered into a company volunteer regulation last summer, and other retailers followed this route, including the new appearance.
According to the latest applications at the House of Companies, the chain entered a voluntary regulation (CVA) last summer.
CVA is a way of restructuring that allows a company to negotiate with its creditors to pay its debts such as reducing rental costs with hosts.
In recent years, other fashion retailers entering a CVA are new appearance, Jigsaw and Hotter shoes and Caffe Nero and Body Shop.
After the rival fashion chain exam, after falling into management, he closed 23 stores in February and retailers stated the higher cost of life -squeaking expenditures among his customers.
Last year, he also saw the big retailer who had financially fighting in the sector or had to close the stores, including Ted Baker, Matches, Muji and Farfetch.
The latest problems for Select Moda follow the new data that more than 13,000 stores close their doors in 2024 – an increase of 28 percent in January a year ago.
Industry experts say that in 2025, the estimated 17,350 shops were worse.
The highest number of Retail Research Center (CRR), which compiled the report, started to collect data in 2015 and followed the closure of 13,479 stores last year.
The majority of the closed shops in 2024 – 11.341 – were independent retailers, a 45.5 percent leap against the previous year.
Mailonline approached Seçkin Moda and Moorfields for a comment.
