Northern Ireland-based womenswear chain Exhibit has gone into administration, with 100 employees set to lose their jobs.
James Neill and Rachel Foster of HNH Group have been appointed as joint administrators of the retailer, which has 14 shops and concessions in Northern Ireland plus two shops in the Republic of Ireland.
“A general downturn in trading conditions, coupled with a significant change in consumer spending patterns over recent times, has significantly impacted on the company‘s trade and has resulted in the appointment of joint administrators,” the administrators said in a statement.
“The appointment highlights the continued difficulties experienced by independent retailers on the high street.
“The joint administrators and their staff are currently undertaking an immediate assessment of the financial position of the company and its assets. Once this is complete, the joint administrators will have a clearer picture of the future options available to them.
“Our immediate priority is to communicate with the key stakeholders of the business, including employees, creditors and landlords.”
Exhibit was established in 1983.