Internaçionale said to call in administrators

Fashion retailer Internaçionale is reportedly set to call

in administrators according to reports surfacing on Tuesday.

As reported by ‘Property Week’, affordable fashion retailer Internaçionale has filed a notice of intention to appoint administrators on Tuesday. Internaçionale was previously rescued through a sale in 2008.

According to the ‘Telegraph’, Ernst & Young have been appointed administrators to the fashion chain, which has almost 150 stores located across the UK.

In the same vein, sources quoted by ‘Property Week’ add that the notice was filed Monday at Manchester High Court and indicates that the retailer has lined up Thomas Jack Tom, director in the Manchester Ernst & Young as their administrator.

As recorded within the company latest accounts, Internaçionale’s management highlighted that the company had started a turnaround process. Also noteworthy the 9.4 million pounds investors have put into the business.