Select Fashion set to close 12 stores across the UK following CVA filing

High street fashion retailer Select Fashion is believed to be closing 12 of its branches over the next two months, almost one year on from its entry into a Company Voluntary Arrangement (CVA).

Impacted stores are said to be primarily in the North of England, according to The Sun, which reported that it had seen documents revealing that staff at the locations had already been informed of the closures.

The media outlet added that the stores believed to be on the verge of shuttering include the brand’s locations in Ashington, Chippenham, Hartlepool, Hull Hessle, Hull St Stephens, Merthyr Tydfil, Peterlee, Scarborough, Scunthorpe, South Shields, Thornaby and Wellingborough.

While the exact date for each store closure has not yet been determined, The Sun said that both the Merthyr Tydfil and Wellingborough locations are expected to shutter in March.

Select Fashion, which is owned by Turkish entrepreneur Cafer Mahiroğlu and operates 105 stores across the country, fell into administration in 2019, citing challenging high street conditions at the time as the cause.

It was later bought by Genus UK Limited, however ultimately ended up entering into a CVA in April 2024, allowing it to proceed with a restructuring.

In its most recent financial statement for the eight months ended 3 February 2023, for which it posted a turnover of 23.6 million pounds, Select’s management recognised the continued impact of the UK’s cost-of-living crisis alongside other macroeconomic and political factors, which would put “further pressure” on the business.

Despite this, the report noted the company remained confident in its ability to mitigate such headwinds, with the board of directors constantly reviewing the market.