Skip navigation

Gloucestershire Business News

Gloucester's Select store will remain trading - for now

The Gloucester Select store will remain open and trading - for now - while administrators seek to find a rescue package for then and the 166 other stores across the country.

The struggling fashion retailer which has outlets in Eastgate Street Gloucester announced it was entering administration in April.

Last week, business advisory firm Quantuma filed proposals for a Company Voluntary Agreement to rescue Genus UK Ltd in the High Court.

Genus UK Ltd trade as 'Select' and will continue to operate all 169 stores, its head office and warehouse facilities and continue to trade online.

Select who trade as a value ladies fashion retailer targeting 18-35-year-olds, sells up to 4,000 products from its stores, and employs 1,800 people.

The CVA proposal does not propose the immediate closure of any of the chain's stores or any immediate redundancies.


Click here to get Punchline Daily, the best Gloucestershire news delivered to your inbox

However, a meeting has been convened for June 11 at which the company's creditors will vote on the future.

Andrew Andronikou, partner at Quantuma and one of the administrators, said: "The turnaround plan embarked upon by the management delivered benefits but had not reached sufficient maturity to protect the business from this impact in the market.

"There remains the opportunity, with the support of its parent company, to bring these to fruition and in doing so return the business to a stable and profitable position.

"As joint administrators, we have arrived at the view that a CVA offers the best outcome for creditors as a whole.

" The proposal does not outline the immediate closure of any of the company's stores, and any immediate redundancies, however some may occur even if the proposal is approved.

"If the proposal is not approved, it is anticipated that the company will remain in administration and, in the event a suitable offer is not received to acquire the business, we will have to consider ceasing its trading activities."

Related Articles

Powerful Gloucestershire business group teams up with GCHQ Image

Powerful Gloucestershire business group teams up with GCHQ

In a fitting cloak and dagger moment, the boss of GCHQ was revealed as top of the bill at the GFirst LEP Annual Review.

£2.1 million funding to boost Gloucestershire harbour project Image

£2.1 million funding to boost Gloucestershire harbour project

More than £2 million has been won towards an ambitious scheme to develop a Gloucestershire harbour.

New restaurant revealed for Cheltenham Image

New restaurant revealed for Cheltenham

A chef who trained with the legendary experimental foodie Heston Blumenthal has been revealed as the name planning to open a new restaurant in Cheltenham.

Forum says the future of Cheltenham High Street is not just about shopping Image

Forum says the future of Cheltenham High Street is not just about shopping

It’s not all about the shopping, was the conclusion that close to 100 attendees took from Thursday night’s Cheltenham Property Forum on the future of the High Street, hosted by Evans Jones.

Copyright 2019 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.