Fashion chain Morgan has become the latest victim of the depression in high street sales
The company has been put into administration and about 600 staff are expected to be made redundant. It means 19 standalone stores and 47 department store concessions will close.
The chain suffered from “difficult trading conditions” with like-for-like sales down nearly 20% in the first six months of the year.
Administrator David Crawshaw, of KPMG, said: “Morgan has suffered from difficult trading conditions on the high street. As a result of this and subsequent losses, the company faced an increased funding requirement to pay wages, landlords and creditors.”
The firm was looking to sell the business, but French parent Morgan SA has withdrawn its distribution agreement, leaving the UK outlet with no stock.
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