Worthing town centre store goes into administration

A Worthing town centre store has gone into administration as a result of 'reduced revenues'.

Footwear and fashion retailer tReds, which operates a store in Worthing's Montague Street, was taken over by administrators Ross Connock and Zelf Hussain of PwC on Tuesday (January 29).

The tReds store in Worthing's Montague Street

The tReds store in Worthing's Montague Street

A spokesman for the administrators said there were no plans to make any redundancies, including to the seven employees at the Worthing branch.

Ross Connock, PwC director and joint administrator, said: "The business has faced similar challenges to those seen across the retail sector, including changing consumer behaviour and economic uncertainty. This has resulted in reduced revenues across the store portfolio. Despite the best efforts of management, there was unfortunately no alternative but to place the partnership into administration.

"All staff remain employed as normal and we are continuing to trade the business in the coming days while we assess the trading strategy and explore any interest in the business".

tReds operated 21 stores across the UK and also sold online. Its head office and warehouse is in Weymouth, Dorset. The business employs 165 staff.

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