Gift chain enters administration

PUBLISHED: 10:00 17 January 2012

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Archant

ANOTHER major retailer in Weston is under threat after going into administration yesterday (Mon).

Past Times, a chain of retro gift stores, has made 507 people redundant nationally, closing 46 shops.

The Weston branch in the Sovereign Shopping Centre is currently still trading, but its head office spokesman refused to comment on what will happen to the store and its staff in the future.

Administrators KPMG released a statement suggesting that the store, along with other remaining branches, will enter ‘closing down mode’ with slashed prices.

The store could be closed in future if a buyer for the remaining shops is not found.

It said: “The remaining business, comprising 51 stores and 500 employees is continuing to trade under the control of the administrators in the short term.

“There will be an orderly wind down in the event a going concern sale cannot be concluded.”

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