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Shutters go down for good at budget fashion store in Ashton town centre

A fashion shop in Ashton is to close as a chain announces the closure of 35 stores.

Select Fashion announced earlier this month that it would close 12 of its shops in a matter of weeks - but the figure has now been revised to 35.

The chain has a shop in the Ladysmith shopping centre in the town centre.

The shutter are expected to come down by the middle of next month. 

The closures will cut the budget fashion firm's portfolio of shops by half. The brand previously went into administration in 2019

It comes after the fashion brand fell into administration in 2019, with the Turkish-owned retailer blaming tough economic conditions on the high street.

It was later bought out of administration by Genus UK Limited.

The chain entered into a Company Voluntary Arrangement (CVA) last summer, according to recent filings on Companies House. 

A CVA is a way of restructuring that allows a company to negotiate with its creditors to pay off its debts, such as reducing rent costs with landlords.

Other fashion retailers that have entered into a CVA in recent years include New Look, Jigsaw and Hotter Shoes, as well as Caffe Nero and Body Shop. 

At its peak, Select operated 169 stores before it went into administration.

 

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