D2 Jeans, a small British clothing retailer, has entered into administration, highlighting the plight of many of the country's fashion companies as they battle against a stagnant economy.
Business restructuring company BDO LLP said on Thursday that its partners James Stephen and David Hill had been appointed as the administrators for D2 Jeans and added that 200 jobs would have to go.
It is unfortunate that the economic climate and extremely difficult trading conditions have significantly affected the retail sector, Stephen said in a statement.
However, we are hopeful of securing a sale of all or part of the company, and will continue to trade the business whilst this is explored, he added.
Retailers have been hit by rising unemployment and stagnant wage growth in Britain, and D2 Jeans' woes come after struggling outdoor goods retailer Blacks Leisure
(Reporting by Sudip Kar-Gupta; Editing by Neil Maidment)