194 jobs lost as perfume shops collapse

[timezone]

Perfume retailer Passion for Perfume joined the list of high street casualties today after it collapsed into administration with the loss of 194 jobs.

The Manchester-headquartered firm appointed administrator Deloitte today after the group's bosses were unable to find a buyer.

Deloitte said Passion for Perfume made 185 store staff and nine in the head office redundant on New Year's Eve.

The firm traded online and from 45 stores across the UK at locations including Aberdeen, Plymouth, Blackpool and Wigan.

Administrators said they would not be trading the business, with all the stores already thought to have closed.

[bendelapidate]

Jeez that stinks.:D

[mido]

Like Woolworths, Waterford, Wedgewood...the list will go on.

Buying out debt-ridden companies always struck me as a peculiarly risky culture but now it seems to have slowed to a virtual stop - unsurprisingly. Now companies trading with massive debt can't find rescuers, not helped by the fact that banks have ceased lending the artificial money they haven't even got!

Perhaps a few financial people have woken up. But I doubt it.