Yorkshire-based butchers Crawshaws have this morning gone into administration, putting a number of Leeds outlets at risk.
The group, which operates from 42 high street stores and 12 factory outlets, said discussions with investors to raise cash had failed and that it does not have sufficient resources to carry out a restructuring.
It is not known at this stage what impact will be felt in terms of job losses or on the ongoing operations of its stores, of which there are three in Leeds.
- Merrion Centre
- Bramley Centre
- Low Road - Hunslet
A statement to investors read: “The Company does not have sufficient cash resources to effect the required restructuring of the business.
“In the light of the above and the operational and financial uncertainty which the Company now faces, in order to protect both shareholders and creditors, the Board has taken the decision to place the Company into administration and intends to appoint administrators shortly with the purpose of seeking buyers for the Group’s business and assets on a going concern basis.
“As a result, the Board announces it has requested a suspension of trading in its shares on AIM with effect from 7.30am on 31 October 2018.”
The YEP recently launched the 'Love Your High Street' campaign, encouraging readers to spread the love on to the high streets of Leeds.