The Topshop receivership has been particularly high profile, and today the Directors of Top Retail opened up about the situation after being tight-lipped for weeks.
“We have put our hearts and souls into this business, we have the best staff, great store locations,
and the Directors have left no stone unturned in trying to find a solution," stated the Directors. "It is with regret that the directors had no alternative but to request the secured lender to appoint receivers. We will work closely with the receivers to ensure the best possible outcome for the business and employees."
Top Retail continued to operate Topshop and Topman until the size of their losses made it apparent that they could no longer sustain this. The receivers, McGrathNicol have let it be known that any parties interested in fit out products or leases should contact the receivers immediately.
Both the Auckland and Wellington stores closed last Sunday on October 1.