Administration of New Store Europe UK Limited: Update

Administration of New Store Europe UK Limited: Up...

The joint administrators of New Store Europe UK Limited, the store interior, shop fitting and design company, have today announced 231 redundancies.

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Will Wright and Mark Orton from KPMG were appointed joint administrators of New Store Europe UK Limited on 2 October 2014. A supplier to a number of high street retailers, New Store Europe UK Limited employed 307 people at its headquarters in Harlow, Essex, and across sites in Corby, Bicester and Leicester. 

69 members of staff will be retained in the short-term to assist the administrators in the winding down of the company.

Will Wright, partner at KPMG and joint administrator, said: “Over the last 12 days, we have been in discussions with a number of interested parties with a view to securing a going concern sale of the business. Unfortunately, we have been unable to secure a sale of any elements of the business to date, and the financial position of the company has meant that we have had to make a significant number of redundancies.”

Employment specialists from KPMG’s restructuring practice will be ensuring the employees are supported in claiming redundancy, notice pay and arrears of holiday pay from the government’s Redundancy Payments Office.


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Notes to Editors:

Number of redundancies per site:

NSE UK site Retained Redundant
CORBY 28 19
HARLOW 36 43
TOTAL 69 231


For press enquiries, please contact:

Katy Broomhead, KPMG Corporate Communications

T: 0161 246 4623

M: 07824 537963


KPMG Press Office: +44 (0) 207 694 8773


About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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