Wednesday, 8 May 2013
York-based Coggles in administration
Coggles Limited, the fashion retailer based in York, has been put into administration with the loss of 30 out of 60 jobs. Andy Clay and David Acland of Begbies Traynor are looking to sell the business.
The company was founded in 1974 by Sarah Coggles, and had a successful online presence as well as their stores in Petergate which sold 200 ranges of specialist and popular brands of clothing for both men and women.
Mark Bage, chief executive and creative director of Coggles, said: ""The last two quarters have been the toughest I've seen in the industry. This is the third recession that I have been through but this recession has hit our sector the hardest, which has effectively been a triple dip recession."
Andy Clay of Begbies Traynor said; “We are currently reviewing the business and making every effort to secure a return for the creditors and a future for the business and its staff.”
2 of the stores are continuing to trade while a buyer is found.
According to the last set of accounts filed the Coggles Limited made a loss of £1.5m to the January 2012