Another popular store to close down permanently at Milton Keynes city centre

Soletrader is closing eight of its 37 stores nationally, and Milton Keynes is on the hit list.

The move comes after after Soletrader's parent company Twinmar Limited placed it into a creditors’ voluntary liquidation.

Liquidators were appointed last month and a new subsidiary of the Twinmar Group, Twinmar London Limited, bought Soletrader’s assets, including its stock.

The Soletrader website, which operates as a separate business, will not be affected and will continue to trade.

The retailer’s brands, including Soletrader and Sole are owned by Twinmar Group, and will not be impacted by the creditors’ voluntary liquidation.

The company said this “necessary action” will place the Twinmar Group in “a strong position for a future beyond Covid-19."

Twinmar director Marcel Bordon told the Retail Gazette the store has never experienced a challenge like the pandemic.

Other shops that have entered insolvency during lockdown include Laura Ashley, Debenhams, Monsoon Accessorize, Cath Kidston, Quiz and Victoria’s Secret’s UK arm.