1 month ago 22nd May 12:05
MK One has gone into administration, threatening 2,500 jobs in it's 172 stores.
The budget high street retailer was sold to a retail restructuring specialist Hilco just a few weeks ago after previous owner Baugar decided the failing business "no longer fitted into the portfolio".
But MK One is now in the hands of administrators Deloitte & Touche who plan to seek out a new buyer, reports the press association.
Lee Manning from Deloitte said: "We are continuing to trade the business as a going concern whilst seeking a buyer. "MK One has a strong customer base, a range of good brands and an excellent store portfolio."
"MK One has a strong customer base, a range of good brands and an excellent store portfolio."
Meanwhile MK One's former boss Elaine MacPherson brought Ethel Austin back from the bring by buying the trouble chain earlier this week.
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