1. 4 updates

Fashion chain in administration

150 people have been made redundant at the fashion chain Republic after it was put into administration. The firm has tweeted: "We did all we could but it's simply too tough out there."

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Republic stores will stay open while buyer sought

Ernst & Young, administrator to Leeds-based group, Republic, said the that 121 stores will continue to trade while it looks for a buyer for the business.

Republic, which started as a men's denim retailer in 1986 under the Best Jeans brand in Leeds, was hit by a "sudden and rapid decline" in sales at the end of last month after poor trading results over the autumn.

Republic suffered poor trading results in the autumn, and whilst sales picked up in December there has been a sudden and rapid decline in sales in late January.We will continue to trade Republic, with a view to selling the business as a going concern. The brand Republic is well recognised, particularly in the North. It has a powerful website offering, owns well-known brand names, and has some very attractive and profitable stores.

– Hunter Kelly, Administrator

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