Specialist retail agent Dalgleish has been appointed to dispose of 70 Eisenegger and Foxhole stores across the UK, following parent company Basebuy’s collapse earlier this week.
BDO Stoy Hayward was appointed administrator for the discount fashion retailer on Tuesday.
The company has an annual turnover of £55m, but has been hard hit by the slowdown in consumer spending.
Basebuy has also paid the price for opening outlets where rents were high as part of an aggressive expansion.
Earlier this month, it approached its landlords asking for help to pay its rent.
Its 70 leasehold stores total 200,000-250,000 sq ft. They include two on Oxford Street, W1, as well as shops at Bluewater, Kent and the Bullring in Birmingham.
Dalgleish is also reviewing the 210-strong Etam UK portfolio acquired by Arcadia boss Phillip Green this week for about £10m.
Green is likely to sell around 30 or 40 of the chain’s non-core stores
References: EGi News 15/04/05
