AN Edinburgh-based high-end fashion firm has plunged into administration.
FR Retail was placed in the hands of administrators from Begbies Traynor after a sustained period of poor trading.
The company’s head office is in the Capital and its two Fashion Rocks outlets are in the Meadowhall Shopping Centre, Sheffield, and Westfield in London, where 64 staff are employed. The shops sell designer fashion for men and women, including brands such as Hugo Boss, Armani and Juicy Couture.
Paul Dounis, joint administrator from Begbies Traynor, said: “The stores only opened in the last year but they have suffered from the continuation of the weak economy and the fall in consumer spending.
“The company made a major investment when they took on the premises and purchased a large amount of designer stock, but the expected sales failed to materialise.”