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News

Jobs at risk as fashion retailers run into trouble

By: Lynn Cox lcox@thekmgroup.co.uk

Published: 17:32, 02 March 2009

Principles store at Hempstead Valley at risk of closure

High Street fashion chain Principles, which has a branch in Hempstead Valley Shopping Centre, in Gillingham, has gone into administration.

The company, owned by retail group, Mosaic, employs more than 2,300 staff around the country and has about 400 stores dotted around the country.

The retail group also owned many other high street names, including Oasis, Karen Millen, Warehouse and Coast, but these stores have been now been bought by a management group - Aurora Fashions.

The restructuring is said to have saved more than 8,700 jobs nation wide.

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Another casualty of the shake-up is the Shoe Studio, which was also owned by Mosaic.

This has also gone into administration.

The Shoe Collection has a branch in Chatham's Pentagon Shopping Centre.

It was also announced today that fashion jewellery retailer Diamonds and Pearls, which also has a branch in the Pentagon Centre, has gone into administration.

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