The Altrincham branch of menswear chain Greenwoods is to close down after almost 70 years in the town.
The company, which dates back to 1860, has leased its prominent shop at the junction of George Street and Cross Street since the 1950s.
But the company, which employs around 318 people in total, went into administration earlier this month and administrators Deloitte are currently looking into various options regarding the future of the company, which could include its sale to another company.
A sign on the Altrincham store’s door confirms that all “affairs, business and property of the Company” are being handled by Deloitte.
But it’s understood that the Altrincham branch will be closing, although no date has yet been confirmed. ‘Closing down’ signs have gone up in the store’s windows today.
Five staff are currently employed at the shop.
The news comes just two days after the shop received a certificate from the Altrincham Court Leet in recognition of over 50 years’ trading in the town.
The company’s most recent figures showed a turnover of £22.4m but a loss of £1.4m, the latest of a sequence of losses it has made in recent years.