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Seven troubled Paul Simon stores saved by Lewis's Home Retail

Published: 7 May 2014
Although seven Paul Simon stores have been bought by Lewis's Home Retail, the administrators have announced a further six will close.
Seven troubled Paul Simon stores saved by Lewis's Home Retail
It was revealed at the beginning of April that home furnishings retailer Paul Simon had entered into administration because of an uncertain economic environment.

The jobs of 73 staff have been retained as the following stores; Colindale, Chelmsford, Edmonton, Harlow, Hayes, Lakeside and New Malden, have been sold.

Seven stores have already closed and a further six stores; Ashford, Beckton, Bristol, Enfield, Slough and Worthing, will close in the near future.

Deloitte partner, Lee Manning, said: "We are pleased to have some good news during the administration of Paul Simon. However, this is not a sale of the brand and we will see further clearance sales at the closing stores.

"This market remains challenging, especially for out of town retailers, and the increasing importance of online sales caused an erosion on margins."

Deloitte will continue to trade the remaining 30 stores until a buyer is found for all or parts of the company.

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