The future is unclear for fashion retailer Select after the company was plunged into administration.
Business advisory firm Quantuma has been appointed to oversee the process at Select about a year after the retailer, which has two branches in Nottinghamshire, entered a company voluntary agreement (CVA) to slash its rent bill.
The company, which has an annual turnover of £77 million, operates as a ladies' fashion store targeting 18 to 35 year olds and has stores in Bulwell and in Mansfield. The company's website states it has a branch at the intu Victoria Centre but it moved out in 2018.
It has 169 stores in total across the UK and employs 1,800 people nationally, although no redundancies have been made as a result of the administration.
Andrew Andronikou, joint administrator at Quantuma, said: "We will continue to trade Select whilst we assess all options available to the business, with the aim of achieving the optimum outcome for all stakeholders.
More than 70 per cent of stores in new Broadmarsh Centre are now taken or in advanced negotiations
"Options include a sale of the business as a going concern, in addition to entering into discussions with those parties who have already expressed interest in acquiring the business."
The company set out a turnaround plan after posting a £15.5 million loss in the 18 months to December 2017, but "high street conditions" affected this, according to the company.
Options for the future of the firm now include a possible sale, which is being explored by the administrators.
Select's woes come at a challenging time for the high street as a number of high profile retailers, including Debenhams, continue to experience financial problems.
Debenhams announced plans to close 22 stores last month. Nottingham's branch was not on the initial list but more closures are expected to be announced.
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