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Julian Graves collapses into administration Tuesday, 3rd July 2012
After four years of losses, Julian Graves on Monday announced it had fallen into administration.
A staple store of many high streets, the health food chain said its shops will continue to operate while its financial situation is assessed.
Julian Graves employs 775 members of staff part time across its 189-strong chain, but said no redundancies are currently planned and that all employees will be paid as normal.
Deloitte, which has been appointed administrator, said in a statement: “The Company has been adversely affected by the tough economic climate, in particular, the ongoing pressure on consumer spending, a competitive high street trading environment, and rising commodity prices.”
Sister company Holland & Barrett has not been affected by the decision and will carry on trading as before.
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Posted in Deals and Takeovers, Food Tagged health food, julian graves, holland and barrett, deloitte, high street, store
