[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Tuesday, 22 May 2007, 16:20 GMT 17:20 UK
Jobs saved as iconic store sold
Lewis's department store
The store in Liverpool has been continuing to trade
A deal has been signed to save an iconic department store - and more than 200 jobs.

Lewis's in Liverpool has been trading as a going concern since February after owners called in the receivers because of cash flow problems.

The store was due to close its doors last week before a last minute bid for the business by Vergo Retail Ltd.

On Tuesday, administrators Kroll said Vergo had signed a deal to run Lewis's as a going concern.

Sale 'pleasing'

Firm partner Philip Duffy said the deal included both the department store and warehouse plus the head office of former owner - Owen Owen Ltd.

The successful sale of the business means that all employee contracts at those premises will automatically transfer to the new company.

Mr Duffy said: "I am very pleased to have completed the sale of Lewis's, safeguarding the jobs of 208 Owen Owen Ltd employees in Liverpool.

"We recognise that this has been a difficult time and we would like to thank all employees, store concessions and customers for their patience and continued support during the administration process."

Vergo Retail is incorporated and controlled by David Thompson, the Managing Director of the former owner of Lewis's, Owen Owen Ltd.

The new company has also concluded deals for Owen Owen's other stores in the North East - Robbs of Hexham and Joplings of Sunderland.


SEE ALSO
Buyer found for department store
16 May 07 |  Merseyside
Deadline set to save famous store
02 May 07 |  Merseyside
Lewis's bosses call in receivers
28 Feb 07 |  Merseyside

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific