Receiver appointed to A-wear

A receiver has been appointed to the fashion chain A-wear after the examinership process failed.

A number of stores are expected to close as a result.

A-wear had been trading under the protection of an examiner since October 8, with a view to restructuring the business to put it on a sustainable footing.

In a statement, the company said sales projections have not materialised and no viable investor was found.

The business will continue to trade under receivership and it's hoped the business can be sold as a going concern.

Update at 14.30pm

A-wear stores around the country have closed as the company goes into receivership. Decision will be made tomorrow which ones will remain open