Republic stores will stay open while buyer sought
Ernst & Young, administrator to Leeds-based group, Republic, said the that 121 stores will continue to trade while it looks for a buyer for the business.
Republic, which started as a men's denim retailer in 1986 under the Best Jeans brand in Leeds, was hit by a "sudden and rapid decline" in sales at the end of last month after poor trading results over the autumn.
– Hunter Kelly, AdministratorRepublic suffered poor trading results in the autumn, and whilst sales picked up in December there has been a sudden and rapid decline in sales in late January.We will continue to trade Republic, with a view to selling the business as a going concern. The brand Republic is well recognised, particularly in the North. It has a powerful website offering, owns well-known brand names, and has some very attractive and profitable stores.
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