Hoi Polloi goes into administration

Young fashion indie chain Hoi Polloi, which has a branch is Rochdale Exchange Shopping Centre, has become another victim to the economy.

The mini-chain, which is registered as Stockcove, entered administration earlier this month. Seven of its 12 stores have been shut already and there are closing down signs in the Rochdale store.

The chain stocks young fashion brands including Police, Gio-Goi, Jack & Jones and Henleys alongside its own in-house brand.

James Stephen and David Hill, partners at accountancy company BDO have been appointed as administrators to Stockcove.

Stephen said: “Unfortunately, like many other retailers, Hoi Polloi Clothing has been significantly affected by the uncertain economic climate and difficult trading conditions. Our only option, regrettably, has been to oversee a shutdown of seven stores. We recognise that this comes at a difficult time of year for staff and we will be liaising with them individually to offer support and assistance.”

Store vouchers are no longer redeemable, and the administrators are currently looking to “maximise recoveries for the benefit of all creditors”.