BREAKING: Dozens of Corby jobs could go as administrators are called in

Corby: Kenmark factory scene setter.'Friday, 08 April 2011'
Corby: Kenmark factory scene setter.'Friday, 08 April 2011'

A shop fitting firm has gone into administration, leaving 68 Corby jobs hanging in the balance.

New Store Europe opened its new high-tech Corby depot at the end of 2012 in the building that used to house the ill-fated Kenmark in Long Croft Road.

The 14,000 sq metre facility was said to be helping to change the face of the industry when it opened - using bar coding and highly-sophisticated IT systems to manage and control stock.

But administrators KPMG have now been called in to New Store Europe, which employs 68 at Corby and 240 others at different sites around the country.

Will Wright, partner at KPMG and joint administrator, said: “The group had recently experienced significant trading difficulties across Europe, culminating in the parent company, New Store Europe AS, entering into insolvency proceedings in Norway on Friday.

“Against this backdrop, the UK business had also come under severe funding pressures.

“Unfortunately, alternative funding outside of the previous parent company arrangements could not be secured in the time available, resulting in our appointment as administrators.

“All staff are currently being retained to enable us to support customers in the short-term, while we seek a buyer for the business and its assets. We would encourage any interested parties to contact the joint administrators as soon as possible.”