East to cease trading next week with 300 jobs lost

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East collapse

Beleaguered womenswear brand East will stop trading next week after administrators failed to find a buyer.

According to City AM, the retailer will stop trading on May 4 resulting in almost 300 redundancies at the business.

East’s fashion retailer business has been up against it for some time, falling into administration first in 2015 when it was then recused by Indian business Fabinda, which closed 19 of its stores in a pre-pack deal.

The bohemian-inspired brand currently operates 34 shoes and 15 department store concessions.

In January of this year East announced it was back in administration with FRP Advisory handling the proceedings.

FRP are yet to find a buyer for the business despite receiving multiple approaches, but they are still open to a last-minute sale of all or part of the business.

East’s creditors are owed around £10.1 million.

The stores will continue trading until the end of next week, although gift cards will not be honoured.

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