Another Dragon bites the dust as O'Farrell says staff has been informed that a receiver will be appointed. Sad another business goes the way of the economic green shoots going forward.
STATEMENT: The decision was taken in consultation with the company’s bankers due to a combination of market and economic factors including a decline in the formal wear rental market, increased lower cost retailers from the high street, higher utility and branch operating costs and unaffordable high levels of rates.
The business will continue to trade as usual, working to honour its commitments to customers and employees, with a view to securing a buyer for the business.
I have not drawn a salary from the business for the past four years, and even invested substantial personal resources. I would like to pay tribute to Blacktie’s employees for their hard work, dedication and loyalty, and will ensure I am available to each and every one of them to answer personally any queries that they may have.
Will this be zoo'd?