Vergo Retail, the retail chain that acquired a string of department stores from co-op societies last year, has gone into administration.
Vergo acquired five department stores from Plymouth & South West Co-operative Society and 11 department and home stores from the East of England Co-operative Society last year.
Administrator Sarah Bell, a partner at MCR, said: "Unfortunately, the company has endured periods of financial loss.
It has made efforts to seek new finance to restructure the business but has been unsuccessful in finding a going concern solution. Like many retailers, it has experienced a difficult trading environment during the economic downturn."
The administrators have closed nine of Vergo’s 19 stores, with the loss of 335 jobs.
East of England axes department stores (11 April 2009)
East of England department stores to go (28 February 2009)