Another store in Wrexham town centre is in potential danger of closure after health food specialists Julian Graves fell into administration today.
The company, which has a store on Lord Street opposite Iceland, owns 189 stores nationwide and the administration puts 363 full-time equivalent jobs at risk.
Administrators Deloitte said Julian Graves had been adversely affected by the tough economic climate, in particular, the ongoing pressure on consumer spending, a competitive high street trading environment and rising commodity prices.
A statement on the company’s website said: “Christopher James Farrington, Neville Barry Kahn, and Lee Antony Manning, all of Deloitte LLP, were appointed as Joint Administrators of the Company on 2 July 2012.
“The first priority of the Joint Administrators is to assess the financial position of the Company and consider the options available. It is the Joint Administrators’ intention, therefore, to continue to trade the business whilst these options are explored.
“Accordingly, no redundancies are currently proposed and all employees’ wages will be met and paid as normal. Please be aware that the Administrators have been appointed over Julian Graves Limited only.
“The affairs, business and property of the Company are being managed by the Joint Administrators. The Joint Administrators act as agents of the Company and contract without personal liability. The Joint Administrators are authorised by the Institute of Chartered Accountants in England and Wales. All licensed insolvency practitioners of Deloitte LLP are licensed in the UK.”
Discuss this with fellow wrexhamites our Wrexham Forums. Other recent threads on the forums include:
Community Polls - Local Referendum Rules
State of the streets in Wrexham
Swansea Council Supports the High Street
Denbighshire council to charge for garden waste collection.. How long before WCBC