Less than two years after it rose from the ashes of former High Street giant Woolworths, rumours are circulating that the chain might be heading for trouble.
Retail Week reports that the 17 store chain, which is headed up by Woolworths’ former head of store and concession development Andy Latham, "may be set for restructuring and a potential change of ownership".
The site claims that documentation from Companies House shows that Latham has resigned as a director and that the chain’s registered office has been changed to that of a Redhill solicitor.
The claim is that some form of pre-pack administration is being orchestrated.
Furthermore, Retail Wekk believes that Latham has already been installed as the director of a new company called Retail Acquisitions that is in line to take control of Alworths.