2000 jobs at risk as Select readies for administration

Select creditors
// Select prepares to call in administrators to recover business
// 2000 jobs put at threat
// Select took out CVA last year to cut rent costs

Select is preparing to call in administrators, putting 2000 jobs at risk.

The discount fashion retailer has filed a notice of intention to appoint an administrator, a court document that prevents creditors from calling in debts for 10 working days.

The document, seen by Retail Week, was filed at the high court last week.

Advisory firm Quantuma has been lined up to handle the administration process.

Select launched a CVA last year to cut rent costs in order to continue the business.

It also launched a CVA in 2008 and Turkish entrepreneur Cafer Mahiroğlu has owned it twice.

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