Houstons Fashions, John Frackelton & Son appoint administrators
US-based retailer Houstons Fashions and John Frackelton & Son have appointed administrators to their respective operations this week, putting at risk 80 jobs.
The fashion chain, which had also ventured into property, said it had already closed its Ballymena store, leading to 10 job losses, reported Belfast Telegraph.
PricewaterhouseCoopers administrator Stephen Cave said it had reached a strategy that will keep open most of Houstons' five remaining shops, which employ over 60 workers in Armagh, Carlow, Dundalk Enniskillen and Lurgan.
"A combination of reduced retail demand and pressures in the commercial and residential property sector have resulted in deterioration in the company's financial performance," Cave said.
"This led to the directors' decision to appoint administrators late on Wednesday.
"Following discussions with the company's lender and key stakeholders, we have agreed a strategy that will permit most of the stores to continue trading.
"This will safeguard the majority of the company's jobs and minimise disruption to suppliers and concession operators."
John Frackelton & Son was set up in 1909 and Houstons Fashions has been operating for at least 50 years.