Tuesday, March 29, 2011

The Officers Club calls in the administrators

Clothing company closes with Blue Inc taking over 46 storesThe Officers Club clothing outlet has become the latest victim of the troubled retail sector, going into administration with the loss of 500 jobs.Grant Thornton had been appointed as administrator, and roughly half the business, representing the remaining 400 staff employed, has been sold to Blue Inc.Blue Inc will take on 46 of The Officers Club stores in a deal reportedly worth £5m. The clothing firm's 56 other outlets, and the warehouse, have closed with immediate effect.Officers Club, which is based at Cramlington, near Newcastle, was facing difficult trading conditions, joint administrator Joe McLean said. "The company experienced particularly challenging trading conditions in 2010 with raw material costs rising

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