GREENWOODS, the gentlemen’s outfitters has closed the doors of its Llandudno store for the final time.

The parent company, Versatile International Trading Ltd, of Stockport has ceased trading and closed the company’s entire chain of shops. The group was founded in 1860.

A notice fixed to the door of the Llandudno store in Victoria Centre said all outlets of Versatile International Trading Limited, trading as Greenwoods, have now closed for business permanently.

The business had previously gone into administration in September 2017, but was bought by Versatile International Trading.

At that time the sale saw 40 retail stores, the central warehouse and head office functions transferring to the buyer and it protected the jobs of 181 employees.

The chain's remaining 22 stores, including one in Bangor, closed resulting in 88 redundancies.

The Llandudno store was the last one North Wales.

The notice said: “The company director has instructed XL Business Solutions to place Versatile International Trading Limited into creditors voluntary liquidation.”

A spokesman for the liquidator, XL Business Solutions of Cleckheaton refused to make any comment.

Adam Owens a director of Williams Denton, chartered certified accountants, based in Llandudno, explained the meaning of creditors voluntary liquidation (CVA).

He said: “A CVA is a procedure in which company directors choose to voluntarily bring the business to an end and do so by appointing a liquidator to sell all the assets, pay off the creditors and close the company.

“There are two reasons why this could happen, one is when all the directors agree to cease trading, the other is when the company cannot pay its debts.

“There is legislation which covers staff. However in general, I would advise any employees to contact the liquidator to submit claims for unpaid wages, holiday or redundancy pay.”

Cllr Greg Robbins, who represents the centre of Llandudno on Conwy County Borough Council, said: "It is very said news indeed that Greenwoods has finally closed, the business will be sadly missed in Llandudno, it has been a fixture here for many years.

“My thoughts go out to the staff and it is a shame to see a company with such a long history falling by the wayside.”

Mayor Llandudno, cllr David Hawkins said: “I am very saddened to hear Greenwoods is going and it is bad news for the staff, they were a great bunch in there and were very professional and helpful.

"It will leave a gap in the town which badly needs to be filled.

Edward Hiller, managing director of Mostyn Estates, which owns the property, said: “I am sorry to seem them go. I feel empathy for the staff who have been very professional and are good people.”