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Saturday, 19 April 2014

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Carlisle health food shop closes after owners enter administration

A health food shop in Carlisle has closed down after the firm that owned it collapsed into administration.

Julian Graves in The Lanes Shopping Centre is the latest casualty of challenging economic circumstances.

The shop at 14-16 Globe Lane closed its doors last night after holding a 50 per cent clearance sale.

The retailer, which has 189 shops across the country, has struggled with the consumer downturn and failed to make a profit in the last four years.

It specialised in selling dry fruit, nuts, snacks and yoghurt starter packs.

It’s understood that the high prices of nuts were difficult to pass onto shoppers.

Its owners, NBTY Europe, bought the chain off Baugur, the Icelandic investor that ran into severe trouble after buying up a clutch of high street names.

A spokesman for NBTY said Julian Graves made a loss of about £2 million every year since the 2008 purchase.

Deloitte, which has been appointed as administrator, said in a statement: “The company has been adversely affected by the tough economic climate, in particular, the ongoing pressure on consumer spending, a competitive high street trading environment, and rising commodity prices.”

The company employed 755 part time staff in the UK and that the chain would carry on trading in the hope that a buyer for the business could be found.

A spokesman for NBTY said its original purchase of Julian Graves had saved the company from administration in 2008.

The spokesman added: “We regret the loss of some part time jobs and will continue to look for opportunities for our colleagues to transfer, where possible, to roles elsewhere in the group.”

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