Popular fashion brand Coast is the latest high street chain finding itself in hot water, with 24 stores across the country set to close and a further 300 jobs put at risk.
Despite the brand’s high street stores closing, department store branches will remain trading following a “rescue deal” by sister brand Karen Millen, a move that fans of Cheltenham’s Coast sector in House of Bad times for the high street… pic.twitter.com/sYAUdAmZU3
Park Post were assured by a store assistant within the department store that for the time being they will continue to stock and sell Coast clothing. It’s thought that Karen Millen will also buy the website and run all online trade, so those without access to a department store can still buy from Coast.
Walking home and I notice that Coast fashion has gone into administration in about the last hour or so.— Claire Mathieson (@clairemathieson) October 11, 2018
The closure of the stores is said to be due to “difficult trading conditions” for the owner of Coast, Aurora Fashions. Aurora also owns fashion stores Oasis and Warehouse, but there’s been no comment on whether these businesses have been affected.
The administration of the chain comes at a time where many big high street names have also been seen struggling, with the nation’s largest toy retailer Toys ‘R’ Us closing earlier this year, along with big name brands Maplins and Bench.
Yet another of Cheltenham’s high street businesses announced it is on the brink of collapse this week, as Patisserie Valerie struggles with remaining open, needing an “immediate injection of cash”.
Coast has advised customers to make any returns via their website and have assured those in possession of gift cards that they will still be honoured.