Store Twenty One was a UK discount clothing and homewares retailer until it entered into liquidation in 2017. It was founded in 1932 by Grabal Alok, the Indian-owned textile manufacturer that bought parts of the QS Stores (formerly Quality Seconds) and Bewise chains that went into administration in 2006.
The depreciation of the pound hit many retailers where it hurts in terms of sourcing costs – but there’s an upside in the form of bargain hungry tourists.
It’s all change at the top for two of the UK’s biggest retailers today as Sir Philip Green appoints a new boss for Topshop and Bertrand Bodson leaves Sainsbury’s Argos.
The varied fortunes of value retailers were brought into stark relief today by Store Twenty One and Aldi.
Store Twenty One has collapsed into compulsory liquidation, sparking the loss of 900 jobs.
Store Twenty One has won a stay of execution after a court allowed it two more weeks to raise the money needed to avoid administration.
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