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Thursday, 19 January 2012

Pumpkin Patch in Administration

In yet another retail failure, Pumpkin Patch, the New Zealand retailer with 36 stores in the UK,  has appointed  Deloitte as administrators for the UK operations.  The retailer employs 400 staff in the UK but it has a much bigger operation in Australia and New Zealand.  However, the UK shops were loss making and the company announced that it was putting the UK operations into administration. The shops sold high quality children's clothes and accessories.

Deloitte said the company had "suffered as a result of the unprecedented and prolonged downturn being experienced in the UK retail sector"

However it is hoped that the business will be sold out of administration

Retailers are getting hammered by the slowdown in consumer spending and it would appear to be "survival of the less weak" at the moment.

If you are a struggling retailer then read our retailer rescue pages to see how you can determine lease obligations and save cash to survive.

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