The ArgusJobs at risk as Paul Simon goes into administration (From The Argus)

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Jobs at risk as Paul Simon goes into administration

Fifteen jobs are at risk after home furnishings retailer Paul Simon went into administration.

The business has outlets in Crawley and Worthing employing eight and seven people respectively.

Flooding was blamed for restricting access to stores.

Administrator Deloitte is working to secure a sale and preserve jobs and value for creditors.

Lee Manning, Deloitte partner, said: “Like many other retailers, Paul Simon has been hit hard by the uncertain economic environment.

"In addition, its core business has been undermined by the increasing importance of online sales causing an erosion of margins.

"This was compounded by the impact of the recent widespread flooding which restricted many customers’ access to several stores.

"These issues made an element of the store portfolio unprofitable and led to a projected imminent cashflow deficiency resulting in the administration appointment.”

For more information go to www.paulsimon.co.uk or www.deloitte.com/uk/paulsimon

Comments (6)

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11:31am Thu 3 Apr 14

birthofanorange says...

Need a new job? You can call me.
Al.
Need a new job? You can call me. Al. birthofanorange
  • Score: 11

11:34am Thu 3 Apr 14

s&k says...

I'm concerned for Art Garfunkel too.
I'm concerned for Art Garfunkel too. s&k
  • Score: 8

12:34pm Thu 3 Apr 14

Roundbill says...

Maybe if the management hadn't splashed out for diamonds on the soles of their shoes and expensive holidays under African skies, they might not have gone bust. The chances of the company seeing a revival in its fortunes are slip slidin' away.
Publicising this in the Argos was just one of 50 ways to leave you this information.

Actually, that last one was lame, even by my standards. It's Pimm's o'clock - I'm off to the beach.
Maybe if the management hadn't splashed out for diamonds on the soles of their shoes and expensive holidays under African skies, they might not have gone bust. The chances of the company seeing a revival in its fortunes are slip slidin' away. Publicising this in the Argos was just one of 50 ways to leave you this information. Actually, that last one was lame, even by my standards. It's Pimm's o'clock - I'm off to the beach. Roundbill
  • Score: 3

1:30pm Thu 3 Apr 14

notaconspiracy says...

We must hope for a bridge over troubled waters...
We must hope for a bridge over troubled waters... notaconspiracy
  • Score: 1

1:33pm Thu 3 Apr 14

ThinkBrighton says...

There needs to be a bridge over this troubled water
There needs to be a bridge over this troubled water ThinkBrighton
  • Score: -1

6:53am Fri 4 Apr 14

Cave Johnson says...

No comment from the firm i see, just a sound of silence. I expect the staff aren't feeling groovy.
No comment from the firm i see, just a sound of silence. I expect the staff aren't feeling groovy. Cave Johnson
  • Score: 2

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