By Marcus Leach
Reading-based Pumpkin Patch are the latest clothing retailer to go into administration.
The retailer, who specialise in children's clothing, have appointed Deloitte as their administrators in the UK. They have a parent company in New Zealand, but the administration only affects the UK, where they have 36 stores employing in the region of 400 people.
Deloitte said it had been necessary to close five stores, with 60 employees being made redundant, though the rest of its stores would continue to trade while options are pursued.
"We encourage all parties to remain supportive while we continue to trade the business, thus providing the best possible platform for us to preserve jobs and value for all creditors," Daniel Butters from Deloitte said.
This news comes hot on the heals that Peacocks, another clothing retailer, also entered administration having failed to resolve their £240 million debt.
Join us on