Deloitte Announces Job Losses at Barratts
In an update on its administration of the Barratts Priceless Group, Deloitte has announced that no buyer has come forward for the concession business, with the result that over a thousand jobs will be lost in the UK and the Republic of Ireland.
Daniel Butters, joint administrator and partner in Deloitte’s restructuring services practice, said: ‘Following a marketing of the Barratts Priceless businesses it is clear that a satisfactory sale of the concession to a new party will not be achieved. Accordingly, the joint administrators have regretfully had to make approximately 1,610 Barratts Priceless Group full and part time employees working in the various concessions redundant.’
The joint administrators say they are in active discussions to rescue a significant part of the remaining business.