Clothes retailer Mark One in administration again

Neil Bennett and Michael Healy of Leonard Curtis were appointed administrators to its 125 stores this morning.

The ailing value fashion retailer was sold to turnaround specialists Hilco in May. Shortly after, the business was placed in administration.

Mark One's founder Mark Brafman bought back more than 100 stores as Jet Star Retail and re-launched the business, but sold his stake in October.

The retailer's turnover from 24 May - 19 November 2008 was £30.4m.

With a head office in Acton, west London, and a store in Oxford Street, the remaining outlets are located in town centres across the UK; around 1,400 full and part-time staff are currently employed.

Neil Bennett said: ‘This is a business which has suffered under the current particularly difficult trading conditions.'

'It is also in severe competition with much bigger rivals such as Primark and the supermarkets. It does however have 125 stores in key high street positions across the country and a loyal client base.

‘We have already received a number of expressions of interest and are continuing to operate the business while we look for a swift sale in order to protect creditors and jobs as far as possible.’