It faced bankruptcy in 2009 and 220 stores were closed down. The Ex-Stylo chairman Michael Ziff bought 160 of the stores.
Now in 2012 the firm is again in trouble and the accountants tried to find a buyer but to no avail. 1,600 staff were sacked just before Christmas. Many branches operated through Dorthy Perkins and outfits stores.
Three weeks ago a debt of £240million and 3,840 jobs at risk was announced. The accountant firm Delotte is still trying to rescue a major part of the business. The sad news is that yet again there is another established firm going to the wall, which will make thousands of workers unemployed yet nobody seems to care or want to lift a finger to help.
Yet, these workers are not a unique. Hawkin's Bazaar has indicated that they too are in a great deal of financial trouble.
We have already seen the collapse of Jane Norman, Moben and Focus DIY. Comet was sold for £2. Blacks Leisure are now for sale and 3,500 jobs here are in danger. Lingerie firm La Senza are reducing prices and will also close a number of stores. This means a further 9,000 stores are at risk, including jobs.
AND SO IT WILL GO ON AND ON UNTIL THE WHOLE COUNTRY GRINDS TO A STANDSTILL, AGAIN AS BEFORE UNDER MARGARET THATCHER.