Tough trading conditions lead to redundancies at stores
20th April 2017
More than 30 jobs have been lost following the closure of two grocery stores in Gloucestershire.
Two businesses trading under the Nisa brand in Lydney and Coleford have shut after its owners, County Stores Holdings, County Stores (Grocers) and County Stores (Supermarkets), went into administration.
A buyer has been found for five of the group's businesses trading under the Spar brand, saving nearly 80 jobs, but 31 roles have been made redundant at the two Nisa stores.
The rest of the 68-strong workforce at the two stores have been kept on to assist with stock clearance.
BDO LLP business restructuring partner Simon Girling told the Forester: "Unfortunately, difficult trading conditions and a shortfall in the company's working capital position significantly affected the business and the ongoing viability of the stores in Lydney and Coleford.
"Regrettably, it has been necessary to make redundancies.
"Going forward, the joint administrators will be seeking to maximise recoveries for the benefit of creditors and will be pursuing a stock clearance at the Lydney and Coleford stores while the administration process continues."
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