Julian Graves collapses into administration
Julian Graves, the chain of health food stores, has collapsed into administration, putting 363 full-time equivalent jobs at risk.
Professional services firm Deloitte has been appointed as administrator to the failed company which operates 189 stores across the UK.
Deloitte said in a statement: “The company has been adversely affected by the tough economic climate, in particular, the ongoing pressure on consumer spending, a competitive high street trading environment, and rising commodity prices.”
Julian Graves specialised in selling dried fruit and nuts, and it is understood that the company found it difficult to pass on the high price of nuts to the consumer.
The administrators said that the company will continue to trade as normal while they try to find a buyer for the business.
Joint administrator Chris Farringdon said: “The first priority of the Joint Administrators is to assess the financial position of the Company and consider the options available.
“It is the Joint Administrators’ intention, therefore, to continue to trade the business whilst these options are explored.
“Accordingly, no redundancies are currently proposed and all employees’ wages will be met and paid as normal.”
