|
News Index
Next
Previous
The UK's biggest chain of butchers has closed 60 outlets and called in administrators to help it sell its 35 remaining stores.
Tunbridge Wells-based Dewhurst employs 600 staff across the country.
Administrators BDO Stoy Hayward said it had to close 60 unprofitable stores in order to try to secure a sale of the rest of the group.
West Country firm Lloyd Maunder bought control of Dewhurst from its private equity owners last year.
The company said it had been hit by increases in rent and energy prices, and that there had seen a substantial decline in trading conditions over the last six months.
In a statement, the company said: "Despite our best efforts and the application of experience gained in running our own chain of butcher's shops, the recent trading conditions have proved to be much worse than those we had anticipated.
"We can no longer justify the much heavier investment being demanded by Dewhurst's
bankers to support this operation.
"We ourselves are the principal creditor involved."
Independent butchers now hold just 13.8% of the retail meat market.
Source:
RedAlert
|
