Republic's stores are facing axe
FASHION chain Republic is understood to be looking at getting rid of up to half its stores.
The company has branches in Eastgate Street in Gloucester and Cheltenham High Street.
According to a report in the Sunday Express the retailer has put all 120 of its stores under review and is seeking to renegotiate rents with landlords.
According to accounts filed at Companies House, its full-year pre-tax profits for 2001 crashed by 86 per cent to £3.7million.
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Republic is owned by US private equity giant TPG and last year appointed former TKMaxx head Paul Sweetenham as its chief executive.
Meanwhile SuperGroup is believed to be about to report a sales increase of 17.5 per cent for the third quarter.
It started life as the brainchild of Julian Dunkerton, who sold clothes from a Cheltenham market stall.
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