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A good example of a business entirely reliant on unbelievable prices which of course is a market positioning that can succeed but not when the prices are not believable and not when the demographics are so narrow..

Product is poor as is the out of date store environment and selling culture which in turn generates a disbelieving customer.

It is not a concept that fared well when the Levy family ( of Tottenham Hotspur chairman Daniel levy fame) owned it changing the name from Mr Buyright prior to Stephen Cohen buying the business who then set out on a daft strategy of mass expansion that has resulted in over trading for years that saw lord Rose hasten a quick exit.

The current owners and management are not capable of repositioning the business that should have include ladies wear .

Even if they were capable the capital required is significant and no one will want to take that risk as the brand has little value neither does the companies infrastructure. No reason then to invest particularly with its rocky past.

The CVA is highly likely to go through at some level as the potential of 36p in the pound is better than the certainty of nothing via a pre pack administration but I have no doubt that it will fail again and then finally close.