Collectables goes into administration

North East retailer Collectables has gone into administration placing 200 jobs at risk.

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Collectables goes into administration

Collectables has gone into administration, putting 200 jobs at risk. The company has 11 shops across the North-East, Yorkshire and Cumbria, and as a furniture retailer from three units at Collectables Retail Park, Stockton.

“Sustained difficult trading conditions have resulted in the business facing cash pressures with a further increased demand for working capital in preparation for the Christmas trading period."

– Jonny Marston, Mark Firmin and Howard Smith from KPMG’s Restructuring

Administrators have closed the stores. There has been no immediate redundancies but the situation is uncertain.

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