A spokesperson of the company said that the move to close down stores was a part of the corporate restructuring and a bid to capitalise on the growing online shopping consumers, which grew by 50 per cent in 2015.
The company disposed off leases by placing its subsidiary A Levy & Son into administration. Blue Inc will continue to do business from the existing 158 stores after it bought the leases out of administration and securing about 1,500 jobs.
Blue Inc will not be closing its stores in Northern Ireland and on the other hand plans to open six new stores in the region with an investment of £1 million thereby creating over 75 jobs.
Blue Inc is one of the fastest growing retailers in the young fashion market, with an expanding overseas and internet business in the UK. The company has created and developed a number of brands including Twisted Soul and Industrialize, which are gaining a following in their own right, expanding the Blue Inc and Officers Club audience. (HO)
Fibre2fashion News Desk - India
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