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Business

Job losses as administrators brought in at Bay Trading

By: KentOnline reporter multimediadesk@thekmgroup.co.uk

Published: 16:19, 19 May 2009

Updated: 17:17, 19 May 2009

Bay Trading has been put into administration

by business editor Trevor Sturgess

Fashion stores across Kent and Medway are set to close with the loss of dozens of jobs.

Bay Trading went into administration in April and while administrators at Deloitte have managed to sell the busines to Rinku Group, it is feared most Kent outlets are earmarked for eventual closure.

The stores affected are at Bluewater (two outlets), the Chequers Mall in Maidstone, Pentagon Centre, Chatham, Marlowe Arcade, Canterbury, Royal Victoria Place, Tunbridge Wells, Folkestone and Bexleyheath. There are also at least two concessions - in Tonbridge and Bromley.

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Under the deal, Rinku has acquired 45 Bay Trading stores, 85 Bay Trading concessions, together with Bay Trading’s stock and intellectual property. This will safeguard 566 jobs.

The deal is set to cost 1,200 jobs nationwide, with the closure of around 125 outlets. Before it went into administration, Bay Trading operated nearly 300 stores.

Lee Manning, joint administrator with Deloitte, said: "We are pleased that we have been able to secure Bay Trading’s future. It will be predominately a concessions-based business, with a number of stores also continuing to operate."

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