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Blue Inc 'on the brink of administration'

Value menswear retailer Blue Inc is on the verge of going into administration, according to industry sources.

Multiple sources have told Drapers the business has already lined up administrators.

A property source said: “It is no big surprise as the business has been struggling for a while. It won’t have too much impact for landlords as it is not a massive business.”

One insider told Drapers the business closed several stores over the weekend.

Another source said there was already interest in acquiring the brand and some of its store estate out of administration, and negotiations are underway.

As reported by Drapers earlier today, Blue Inc has appointed insolvency practitioner Begbies Traynor to advise on the future of the business.

A spokeswoman for Begbies said: “We can confirm Begbies Traynor has been appointed by the directors of Blue Inc to advise on the company’s financial position. While these discussions are in progress, the business continues to trade as usual.”

However, the Blue Inc website was taken offline on 12 November and is displaying a message saying it is “refreshing its look”.

The troubled menswear retailer entered into a company voluntary arrangement (CVA) in March 2017 and reduced its store count from 153 to 96 by July 2017.

Drapers has ed Begbies Traynor for further comment.

Readers' comments (5)

  • Completely unfair how they keep getting away with this. Every year going into admin and being bought out by the owners sister company. This is how they make money.
    Screw the suppliers and pay only a couple main ones.
    This needs to stop and they need to be investigated.

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  • It's a pointless business that consistently fails. It has no desirability and belongs in the 90's. Suppliers should really wise up and stop suppling them as this horse has been flogged enough.

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  • Anyone care to take a bet on how long it'll be before Sports Direct acquire parts of this in a pre-pack... 30mins? 60...? 90...?

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  • I don't think even Ashley would waste his time on Blue Inc.

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  • Hmm, BlueInc's site is down... Doesn't look good.

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