Muji files for administration in latest retail insolvency

The European arm of Japense retailer Muji has filed for administration, in the latest high-street business insolvency. The shops will remain open, and a pre-pack deal is expected which would save the business. Muji has six stores in London. It is known for its minimalist Japanese designs, for both clothes and home goods. The news was first reported by TheBusinessDesk.com. The collapse comes soon after Ted Baker and The Body Shop’s own insolvency filings, as the British high street struggles with low consumer confidence, high business rates and the impact of interest rate rises. A spokesperson said: “MUJI Europe Holdings (MEH), has announced its intention to appoint administrators. This is part of a planned strategic restructuring of the business and Muji’s management expect to conclude a deal shortly. “For Muji’s colleagues and customers in Europe it is business as usual – all stores and e-commerce will continue to operate as before, and all new and outstanding orders will be fulfilled.” The shop has launched a sale this week, in what it is calling “Muji Week”, with 20% off everything in an effort to bring cash in more quickly while it works through the restructuring. Commenting on the latest developments at...

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