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Jobs at risk as Paul Simon goes into administration
10:41am Thursday 3rd April 2014 in News
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
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