Store Twenty One

Store Twenty One
Industry Fashion
Fate Liquidation & Reborn
Founded London, England (1932)
Headquarters Solihull, West Midlands
Number of locations
 125 (July 2017)
37 (October 2017)
Area served
 United Kingdom
Products Clothing
Website www.storetwentyone.co.uk

Store Twenty One is a discount clothing and homeware retailer in the United Kingdom.

A Store Twenty One in Chichester, England

History

Store Twenty One was created by Grabal Alok, the Indian owned textile manufacturer that bought parts of the QS Stores (formerly Quality Seconds) and Bewise chains that went into administration in 2006. Quality Seconds was founded in 1932 as a clothing supplier and opened stores in the 1960s to sell factory seconds to the public. From the 1980s QS stopped selling seconds but remained a discount clothing store.[1]

In 2015 the business had 125 stores nationwide, selling a selection of fashion and homeware at discounted prices. Its head office was based in Solihull, West Midlands.[2]

In July 2016, it was reported that Store Twenty One was facing financial difficulties and that some stores were closing down, as it faced going into administration in August if no agreement in reducing rents was agreed. In July 2016, it was proposed and agreed that company voluntary arrangement action be taken.[3]

In May 2017, it was reported that Store Twenty One was on the brink of going into administration for the second time, due to poor trading conditions and the bank had withdrawn extra funding. A total of 77 stores were scheduled to be closed over the coming months.[4][5] It entered compulsory liquidation on 11 July 2017.[6]

By October 2017, the business began trading again as it was bought out by another company, who have purchased their liquidated stock, and taken on at least thirty seven shops at present.

References

  1. ↑ Walsh, Fiona (11 February 2006). "Clothing chains join retail casualty list". The Guardian. Retrieved 19 August 2018.
  2. ↑ "Store Twenty One - About Us". Retrieved 8 May 2015.
  3. ↑ GEOGHEGAN, JILL (18 July 2016). "Store Twenty One to close chunk of stores as CVA is approved". Drapers. Retrieved 21 May 2017.
  4. ↑ "Store Twenty One expected to shut nearly 80 stores as CVA approved". Retrieved 20 July 2016.
  5. ↑ Armstrong, Ashley (20 May 2017). "Store Twenty One on brink of collapse after bank withdraws support". The Telegraph. Retrieved 21 May 2017.
  6. ↑ "Store Twenty One collapses into compulsory liquidation". Retail Week. 11 July 2017.


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