The menswear chain had administrators go in this morning, affecting 80 stores across the UK
It has come to our attention that this morning the menswear store chain Greenwoods has gone into administration. Greenwoods had 80 stores across the UK.
The chain was founded in 1860 by Willie Greenwood and at its peak in the 1990s, had over 200 stores in the UK. In 2008 a 50% stake in the brand was almost purchased by a Chinese retailer, however by January 2009 Greenwoods entered administration for the first time.
During this time a subsidiary of Harvest Fancy Hong Kong bought 87 of the 92 remaining stores in the UK from the administrators.
Prior to entering administration today, the company had a 70% sale across their website. They’d experienced a number of store closures across the UK and it had been reported that they were attempting to cut losses.
More on this as it develops.