Kookai operator placed in administration

THE list of casualties on the British high street lengthened yesterday when the operator of the Kookai retail chain in Britain was placed into administration.

A total of 600 staff working at 25 Kookai stores and 30 concessions across Britain were facing an uncertain future after Deloitte was appointed as administrator of Adjustbetter, a subsidiary of London-listed firm Forminster.

The move comes a fortnight after shares in Forminster were suspended on the Alternative Investment Market because of concerns over the franchise.