STAFF at Worthing's two Rosebys home textiles stores face an uncertain future after hearing the company has gone into administration.
The 12 Worthing employees at the Chapel Road and Montague Street shops were given the bad news on Friday. The announcement will also be a shock to the company's many customers from the Worthing area.
Howard Smith, Richard Fleming and Mark Firmin from KPMG LLP Restructuring have been appointed as joint administrators to the Rosebys group of companies.
The group has an annual turnover of £100m and employs approximately 2,000 staff at its 280 stores, head office and distribution centre.
ReviewHoward Smith said: "The business is continuing to trade as normal while we review the financial position and seek a 'going concern' sale.
No employees have been made redundant to date.
"In common with many retailers, the group has experienced difficult trading conditions, leading to continuing losses.
Rosebys has recently sought to re-finance, but this did not prove possible in the current economic climate.
"We are looking for offers for the whole or any part of the business."
Bradford & Bingley Worthing branch But there is more positive news for the five staff at the Bradford & Bingley branch in Montague Place, Worthing.
A spokesman for Abbey, part of the Spanish Santander bank which has taken over Bradford & Bingley, told the Herald yesterday there were no plans to change the status of the Montague Place branch.
Anthony Frost, head of corporate communications, said it was the intention to keep as many branches and jobs as possible.
-------------------------------------
Click here to go back to Worthing news.Where are you? Add your pin to the Herald's international readers' map by clicking here.Email the Herald: letters@worthingherald.co.ukThe full article contains 298 words and appears in n/a newspaper.
