BDO, administrator to D2 Jeans, has confirmed the sale of 20 stores to menswear fashion retailer Blue Inc.
Stores included in the sale are: Ayr, Coatbridge, Dunfermline, Livingston, St Enoch Centre, Glasgow, Glasgow Fort Shopping Park, Barnstaple, Bicester, Cambridge, Cheshire Oaks, Sheffield, Gloucester, Newquay, Penzance, Truro, Banbury, Kings Lynn, Ballymena, Portadown, and Enniskillen.
Stuart Rose, the former chairman of Marks & Spencer, invested in Blue Inc last year alongside brothers Simon and David Reuben.
D2 fell into the hands of administrators after Christmas for the second time in two years.
James B Stephen, BDO business restructuring partner, said: “We will continue to assess the options for the remaining D2 Jeans stores to secure the best possible outcome for creditors and, wherever possible, employees.”
Steven Cohen, managing director of Blue Inc, said: “With 100 years of experience, we are confident that there is a bright future for the 20 stores we have acquired within our expanding national network. These stores will be rebranded as Blue Inc on local high streets in the coming months.”
annabel.dixon@estatesgazette.com
