Greenwood's Llandudno store to remain open follwoing sale of company

Reporter:

Patrick Glover

LLANDUDNO is among 40 Greenwood’s stores remaining open following the sale of the business.

The gents clothing chain went into administration in September but was bought by Versatile International Trading Ltd.

Joint administrator over the company, Deloitte’s Adrian Berry, said: “This sale represents the best outcome for the business, which has been trading in administration for over six weeks.

“A significant proportion of the employees now have their jobs protected and we would like to thank all of them for their support during this difficult period.”

The sale will see 40 retail stores, the central warehouse and head office functions transferring to the buyer and will protect the jobs of 181 employees.

The remaining 22 stores, including Bangor, will close immediately, resulting in 88 redundancies.

This follows the prior closure of two unstaffed concessions and one store (Rugby) at an earlier stage of the administration.

Mr Berry and Clare Boardman of Deloitte LLP were appointed joint administrators over Greenwoods on the September 6, 2017.

The company previously operated from 63 stores and 2 concessions throughout the UK, with its head office and warehouse located in Bradford, Yorkshire.

At the time of the appointment there were 318 employees, of which 292 worked in stores, 15 at its head office and 11 in the warehouse.

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