Hallett Retail Services Limited has been placed into voluntary liquidation after administrators said there was no prospect of finding a buyer for the company.
Hallett Retail provided a range of concession services to retailers and brands, but suffered financial difficulties following the loss of major clients in recent years.
At one point it ran many of the jewellery counters in the House of Fraser. It also worked with the likes of Arcadia, Debenhams and John Lewis on fashion and accessory concessions.
Directors of the business made the majority of concession staff redundant and ceased trading at the end of last month.
A small number of staff have been retained to assist with completing the final transition of its remaining concession services to retailers and brands.
But without the prospect of a sale or ability to continue as a going concern, the directors filed for liquidation.
Steven Ross and Allan Kelly of specialist business advisory firm FRP have been instructed to place the company into voluntary liquidation, and will now assess the assets and liabilities of the company and implement an orderly winding up of Hallett Retail’s operations.
Steven Ross, partner at FRP, said: “The relentless evolution of retail has put an incredible pressure on the business models of those supplying the sector. Hallett Retail has suffered the financial impact of that change and was not able to continue trading.
“We’re working with the directors to manage the winding up of the business, but also assist staff affected by the liquidation. We will be contacting suppliers and clients of the business regarding making claims in the liquidation.”