New Deal Skates Group Closes Retail Division

Added: (Mon Aug 22 2005)

Pressbox (Press Release) - Yet another London retailer has given up the struggle against the downturn in shopping in London. The New Deal Group has closed the High Jinks and Skate of Mind shops in Covent Garden, Carnaby Street and Camden, which it purchased in 2004. Meanwhile the group's on-line shop, http://www.hsplus.com, is going from strength to strength.

CEO, Ray Muchmore, explained: "The current state of the retail market in London meant that the retail division was applying pressure to the rest of the group which we could not sustain. The other parts of the group, New Deal Skates UK, Warrior Distribution and Fenchurch, will now be able to continue to develop as normal, as will our e-commerce shop: www.hscplus.com."

Closing the loss-making retail division will remove the financial drain on the wholesale and manufacturing parts of the New Deal Group and allow them to continue their expansion.