D2 Jeans, a UK-wide chain store with a branch in Derry's Foyleside, has gone into adminstration, making some 200 staff redundant and jeopardising hundreds more jobs across their network of stores. There are nine stores closing in Northern Ireland. But their Foyleside branch will remain open as the administrator seeks a buyer as a going concern.
Administrators closed 19 stores in the UK yesterday, laying off the shop workers as the Ayrshire-based firm became the first notable post-Christmas retail casualty. The remaining 28 stores are being run as a going concern while administrators seek a buyer for parts or all of the business in the hope of saving the jobs of hundreds more employees.
BDO LLP administrator James Stephen said: "It is unfortunate that the economic climate and extremely difficult trading conditions have significantly affected the retail sector. However, we are hopeful of securing a sale of all or part of the business and will continue to trade the business while this is explored."
The company's website was no longer functioning as of yesterday evening.