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The festive period brought a spate of administrations across the high street with D2 jeans failing early in the New Year. We bring to you news highlights and information about the retailer’s performance over the years.
04/01/2010 - Fashion chain D2 became the first post-Christmas retail casualty, falling into administration
11/01/2010 - D2 was bought out of administration by its management team saving 44 stores out of 76 and 500 jobs
3/01/2012 - Store chain D2 Jeans collapsed into administration again, making 200 staff redundant and putting hundreds more jobs at risk. Administrators closed 19 UK stores - including six in Scotland - and laid off shop workers at the Ayrshire-based firm. The Scottish closures were in Clydebank, Falkirk, Glenrothes, Hamilton, Irvine and Paisley. D2's other 28 stores are being run as a going concern while a buyer is sought by administrators, BDO LLP.
As at 3/01/2012, the website has been shut – optimistically stating that it is “temporarily” out of service, whilst displaying the returns policy and list of stores which are trading.
Financial Health
SnapShop uses a well-tested and reliable score based on value added, that is, sales minus the cost of bought-in goods and services, also known as P2.
Key:
P2>175 – Very Strong
P2 >150 and <175 - Healthy
P2>125 and <150 – Fairly Healthy
P2>100 and <125 – Head Above Water
P2<100 – Very Worrying
To view retailers profile and more information on retail administrations for 2011-12 please subscribe to SnapShop.
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