Fears over future of town centre store

Friday 14th May 2010
There are doubts hanging over the future of a Great Yarmouth store after the company owning it went into administration.

Liverpool-based Vergo Retail, which took over the former Co-op department store in the Market Place, in now in the hands of insolvency firm MCR.

It has said that nine of its stores, including that in Norwich, will be closed within a month.

But the others are expected to continue trading for a while in the hope that a buyer will be found.

MCR was appointed administrator after Vergo suffered losses in the tough trading environment.

The company announced the closure of its Lewis's of Liverpool department store in February.

Sarah Bell, partner at MCR, said that like many retailers, the company had experienced a difficult trading environment during the economic downturn.

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