French women's clothing store chain Morgan has gone into administration, the latest retailer to be hit by the sharp fall in consumer spending.

 

The company, which expects to report a 9% decline in 2008 sales, said it still hoped to be able to sell the business.

 

UK private equity group Apax Partners owns 40% of Morgan, while the firm's founding families - Bismuth and Barouch - own another 40% between them.

 

Morgan has 575 stores in 57 countries and directly employs 1,000 staff.

 

It has 33 shops across the UK and Republic of Ireland.

 

Morgan was established in 1968.

 

It had been looking for a buyer since the start of 2008.

 

Morgan's move into administration comes after the same happened to UK retailers Woolworths, Zavvi, Whittard and The Officer's Club.

 

The final Woolworths stores are now due to close on 5 January after administrator Deloitte failed to find a buyer for the whole company.

 

Music and games retailer Zavvi went into administration on Christmas Eve.

 

Tea and coffee specialist Whittard went into administration before Christmas due to "trading difficulties", but it was quickly bought for an undisclosed sum by Epic private equity partners.

MORGAN FACTS

Paris-based

33 UK and Ireland shops

Directly employs 1,000

I think there should be a dedicated administration discussion thread tbh as this really is just the tip of the iceberg, going to be a lot more in the coming weeks

I think there should be a dedicated administration discussion thread tbh as this really is just the tip of the iceberg, going to be a lot more in the coming weeks

 

Lol the thread will be too big by the end of next month.

I've never heard of any of those chains apart from Woolies, i've only heard of Zavvi because of BJ. I really should go into cities more often :lol: