High street fashion firm Bay Trading has been sold, but around 1,230 jobs will be lost as part of the deal. The company was bought by Rinku Group, a wholesaler and retailer with brands including Tigi-Wear, Viz-a-Viz and iZ.
Epcoscan Limited, which trades as Bay Trading, employed 1,800 people and had about 260 outlets before it went into administration last month. But the Rinku deal involves only 566 jobs and 130 shops and concessions, meaning job cuts and store closures, administrator Deloitte said.
Friday, May 22, 2009
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