Jobs lost as administrators called in for high street cashmere brand

North Yorkshire-based Cashmere brand Pure Collection has called in administrators, resulting in 74 staff being made redundant.

The Harrogate-headquartered business appointed Howard Smith and Will Wright of KPMG as joint administrators.

It shut all eight of its stores before the administrators’ appointment, though is continuing to trade through its website. Its eight stores in England had included a branch in York.

Of the business’s 205 employees, 74 were made redundant following the appointment of administrators.

Smith, associate partner at KPMG, said: “Pure Collection has long been held in high regard by British retailers and consumers alike, as shown by consistently strong sales. However, it continues to face the headwinds shared by many on the high street alongside the running of its e-commerce operations.

“We anticipate the company continuing to trade as normal through its website, in the coming months, as we look to secure new investment and protect the future of the business.”

Pure Collection’s most recent results featured an operating loss of £658,771 for the 12 months to 31 August 2018, a fall from an operating profit of £151,519 the previous year. And its turnover fell by 7.7% to £35.5m.

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