Fashion retailer D2 has collapsed into administration after falling victim to “extremely difficult” trading conditions.
Directors of A&J Menswear, which trades as D2, called in adminsitrators from BDO yesterday. Nineteen shops have been shut and 200 staff made redundant. The remaining 28 shops remain open and a buyer is being sought.
It was the second time in two years that the denim specialist, which was originally owned by tycoon Sir Tom Hunter, has hit the buffers.
BDO administrator James Stephen said “extremely difficult trading conditions” had undermined the retailer but he hoped the rump of D2 could be salvaged.
He said: “We are hopeful of securing a sale of all or part of the business and will continue to trade the business while this is explored.”
D2 was bought out of administration in 2009 by Jim McGonigle and Alan Kinney, who attempted to restructure the business with fewer stores.