Coggles enters administration

York-based fashion independent Coggles has entered administration, after attempts by the

directors to restructure and to attract new investment fell through.

The retailer has appointed Andy Clay and David Acland of Begbies Traynor as joint administrators, who have confirmed that around 30 redundancies have been made from the 60 staff members, as they seek a buyer for the business.

Clay said: “We are continuing to trade two of the York stores and the website as usual while we market the business. With its strong brand name and excellent reputation, we are optimistic that a buyer will be found and that Coggles will continue in some form.

“We are currently reviewing the business and making every effort to secure a return for the creditors and a future for the business and its staff.”

Mark Bage, chief executive and creative director of Coggles, added: "Hopefully, Begbies Traynor will be able to find a way for the business to continue to trade through a restructure or sale.

"The last two quarters have been the toughest I've seen in the industry. This is the third recession that I have been through but this recession has hit our sector the hardest, which has effectively been a triple dip recession."

Founded in 1974 by Victoria Bage, the premium independent fashion retailer is home to more than 200 men’s and women’s designer collections from established fashion houses, emerging designers and rare international labels.