More bad news for Chesterfield high street as firm plunges into administration

Workers of a company which has a shop in Chesterfield face an uncertain future after the firm entered administration.

By The Newsroom

Published 10th Sep 2017, 10:56 BST

Updated 11th Sep 2017, 13:25 BST

Greenwoods' store on Packers Row, Chesterfield.

Menswear and formal hire business Greenwoods, which is based on Packers Row in the town centre, called in insolvency practitioners earlier this week.

The company, which has its headquarters in Bradford, was founded in 1860 and has more than 60 stores across the UK, employing 318 people.

It has an annual turnover of Â£20million.

Joint administrator Adrian Berry, from Deloitte, said: "We are currently assessing the options available to the company, including a potential sale of the business, and are continuing to trade it in the meantime.

"No redundancies are being announced at this stage and we are grateful to the employees for their support at this difficult time.

"This is a challenging time for the UK retail sector, which has affected the company."