Wakefield-based retailer put into administration with 70 jobs lost
A long-running Wakefield company has closed, with around 70 employees being made redundant.
Peter Jones, which had 10 shops across Yorkshire, including several in Wakefield city centre, has entered insolvency after a period of "weak trading followed by significant cash flow pressure related to the Covid-19 lockdown".
The company is a Wakefield-based retailer of gifts and homewares, but its stores have remained closed since lockdown with the vast majority of its 70 employees put on furlough leave.
Regrettably, 67 have been made redundant following the administrators’ appointment as the business will not be able to reopen and trade.
The remaining staff are assisting the administrators with the winding down of the business.
Howard Smith, Joint Administrator and Associate Partner at KPMG, said: “Lockdown was a challenge too far for this retailer’s finances and in the unfortunate situation that it cannot continue to trade, we are managing a sale of its stock, in order to seek a return for creditors, and managing the wind down process.
"An employment specialist within the administration team is liaising with the workforce about their next steps.”
The business was launched by Peter Jones in 1963 as a small china shop but grew, opening several in Wakefield, as well one in Pontefract town centre and at Castleford's J32.
Others are dotted around West, North and South Yorkshire.
Parties who are interested in the business’ stock should contact [email protected]