Henleys announces store closures
Fashion retailer Henleys has announced the closure of its Bullring and Merryhill stores as it prepares to close its subsidiary Henley’s Retail with immediate effect. The closures will result in 23 redundancies in the West Midlands.
The Manchester-based company said the decision to close its UK retail outlets would allow it to focus on its core business, Henley’s Clothing, which supplies its branded clothing to several major UK retailers.
David Inglis, chief executive of Henley’s Clothing, said: '”When I joined Henley’s Clothing last year, my remit was to carry out a strategic review of the company and as a result we have decided to focus the business on its main wholesale operation.
“In addition to the continuing growth of online sales, the wholesale side of the business is seeing expansion overseas, specifically from Australia, Canada and mainland Europe. We are also investing significantly in a brand relaunch in July.
“Unfortunately, the retail side of the business has been suffering from poor trading conditions due to fragile consumer confidence and from onerous leases agreed at the height of the market."
Tom Jack and Simon Allport, of Ernst & Young, have been appointed as joint administrators.
