Double Glazing Blogger: Jane Norman In Administration

Monday, June 27, 2011

Jane Norman In Administration

Not a great way to start the new working week, but it has been announced that the high street fashion retailer Jane Norman has been placed in administration with US accountancy group Zolfo Cooper.

The chain employs around 1600 staff, and has debts of £140 million but has been suffering from slow sales.

Zolfo Cooper has said that they will put Jane Norman into something called a pre-pack administration, where a buyer of their company or assets have already been lined up, before they enter formal administration. This practice has been criticized has it often leaves creditors unpaid. That feels oh so like double glazing doesn't it?!

Labels: administration, economy, high street

6 Comments:

Ginty said...: Never heard of them. US firm?; June 27, 2011 at 12:21 PM
Double Glazing Blogger said...: Jane Norman? No it's a British one. The administrators are American though.; June 27, 2011 at 12:24 PM
Anonymous said...: DGB, my question to you is:

Only last week you wrote an article on the media reporting doom and gloom on the financial crisis, saying businesses were suffering as a result.

This quote particularly sticks out: "We're all in this together, the media should shoulder some of that moral responsibility and start to broadcast some more positive news."

Yet, all you have blogged recently are stories of companies going into administration.

I know you mentioned in that post about your blog not having the same effect that the large-scale media outlets do... but essentially you're both reporting news.

Seems a little hypocritical if you ask me, and in my opinion takes the oomph out of what is, a very good blog.; June 27, 2011 at 12:35 PM
Double Glazing Blogger said...: Anon - I take your point. I perhaps don't look back at previous posts published enough to see that the next post I write may not follow the opinion I'm trying to convey. This is the risk sometimes when I publish as much as I do.

I still think the national media could be doing more to lift the mood of the spending public. There is probably going to be some more bad news coming out of America at the end of the week which I'm sure the news channels will dedicate a big proportion of time to. Rest assured I won't be focusing on that on here.

I still also stand behind the point about the size of this site compared to other far bigger ones. I'm far smaller than the BBC or Sky, and so will have a far smaller impact when I do publish posts like these.

Also, thanks for the compliment at the end of your comment. Much appreciated!; June 27, 2011 at 7:33 PM
nige said...: TJ Hughes, has gone under today. And thorntons chocolates are closing half their branches.

God i`m sounding like you GB; June 28, 2011 at 2:15 PM
Double Glazing Blogger said...: Nige - you could never sound as positive as me ;); June 28, 2011 at 11:51 PM

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Monday, June 27, 2011

Jane Norman In Administration

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