FTI Consulting, the receivers and managers of Cue Clothing Co, is closing a further 26 stores in its network as part of the storied retailer’s ongoing receivership and administration.

The announcement comes less than a month after FTI chose to close five stores from the once 51-store strong network. The stores in question were described as “underperforming”.

Both Cue and Veronika Maine are continuing to trade during the sale process. FTI Consulting confirmed it has received offers, resulting in the creation of a shortlist for a “small number of selected bidders”. 

“There are still a number of commercial and transaction matters being worked through with the shortlisted parties,” FTI told Inside Retail.

Parties interested in acquiring the sunken retailer were asked to identify which stores they would be interested in, in the event of a potential transaction. The feedback found a “common group of stores parties have indicated they would not be seeking to continue with”. 

The closure programme will begin today, October 15, with individual timings subject to stock levels. “The intention is to redeploy team members into continuing stores whenever possible,” FTI added.

Inside Retail reported that both Brand Collective and Justin Levis were among the parties tabling offers for Cue Clothing Co. FTI Consulting declined to comment.

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