Fourth company of the year goes into administration
It has been announced that men’s clothing retailer Gio Goi has become the fourth retailer of 2013 to go into administration: a week after Jessops revealed that it had been placed into administration.
Gio Goi has appointed KPMG to handle the administration, unlike both HMV and Blockbusters, who have appointed Deloitte.
KPMG administrator Jane Moriarty said in a statement: “Following a restructuring programme last year, Gio Goi was unable to return to growth levels enjoyed up until 2009 and has become another victim of the recessionary environment.
“We are now looking to sell the business and assets and will continue to satisfy customer orders pending a sale of the business.”