Suits You goes into administration

The company behind the menswear chain Suits You, Speciality Retail Group, has been bought by restructuring specialists GA Europe and put in to administration. GA Europe has appointed Peter Holder, Fraser Gray and Stuart Mackellar of recovery specialists

Zolfo Cooper as administrators and will help them to assess SRG’s trading and retail operations and operate the stores whilst the administrators consider the options available.

SRG underwent a Company Voluntary Arrangement in February carried out by KPMG, but its success was attached to a forecast for a significant uplift in trading. However, SRG said today that trade had deteriorated rapidly in recent months.

The online website, www.suitsyou.co.uk, has now been taken over by Suit Direct. Suit Director is a brand new site and part of The Baird Group.

The Baird Group is one of the UK’s most diverse menswear companies operating at all levels of the market. Its product ranges cover all aspects of the male wardrobe.

The core company activity is as a retail concessionaire and high street store operator. Baird works closely with its concession partners such as: Selfridges, House of Fraser, Debenhams and Burtons as well as quality independent stores.

Baird also has its own chain of retail stores operating under the Alexandre Savile Row, Racing Green, and Jeff Banks fascias, supported by the leading UK dress hire business, Young's.

Image: Suit Direct