The Suits You chain is to be closed after its administrator Zolfo Cooper concluded it has no future, Retail Week has learned.
Most of the 66 stores will continue to trade over Christmas and a closing down Sale will begin immediately, meaning clothing from brands such as Ted Baker and Ben Sherman will be discounted by as much as 75% during the festive trading period.
GA Europe, which acquired Suits You owner Speciality Retail Group for an undisclosed sum in October, will run the closure programme.
Six shops will close by early December – Birmingham Bullring, Birmingham Fort, Bromley, Nottingham, Romford and Leeds White Rose.
Suits You employs about 300 people, the majority of whom will continue to be employed over the Christmas period.
Zolfo Cooper partner Fraser Gray said: “We looked at trading the business in the longer term, however this has not proved to be financially viable.
“In the absence of a going concern buyer, the best alternative is an extended trading period through Christmas. This will provide some employees with ongoing employment during the festive season and we are expecting a busy period due to substantial discounting.”