800 staff at risk as D2 shops hit by cash crisis

Fashion chain D2 today became the latest victim of the recession as it fell into administration, putting 800 jobs and two Black Country shops at risk.

The retailer, which specialises in brands such as Wrangler, Levis and Kickers at its 79 stores including branches at Merry Hill and Walsall's Saddlers Centre, called in administrators from BDO Stoy Hayward last night.

It immediately closed two of three stores in Dublin with the loss of 39 jobs and sacked another 22 people at D2's headquarters in Ayrshire. The company's website has been taken offline.

The other 77 stores are trading as usual while BDO tries to find a buyer for the business.

BDO partner James Stephen said: "It is unfortunate that the economic climate and difficult trading conditions have significantly affected the retail sector.

"We are continuing to trade the business and hope to sell all or part of the company as a going concern."

According to reports, the business holds "substantial" levels of stock which will enable the administrator to keep stores open while a buyer was sought. There have been at least seven expressions of interest.