Scottish retailer USC, which is backed by retail and property entrepreneur Sir Tom Hunter, today became the latest casualty in the high street.
Hunter’s vehicle, West Coast Capital, this afternoon announced that the 58-store fashion chain had gone into administration.
However, USC has also become the latest retail group to use a `pre-pack’ form of administration whereby existing backers and management immediately take over a large portion of the existing business.
In this case, West Coast Capital has agreed to step in to take over more than 40 of USC’s outlets, safeguarding more than 1,000 jobs.
USC was formed in 1989, and numbers Diesel and Lacoste among the labels it stocks.