CHARD'S mayor has reacted to the shock closure of one of the town's biggest shops.

The surprise announcement came just weeks after Store Twenty One and its parent company Alok Industries, withdrew its application for administration and assured people that their shops would be staying open.

All Store Twenty One shops will be closing, meaning the loss of around 900 jobs nationwide, after the company finally collapsed into liquidation.

The retail firm had been battling for survival after failing to secure investment following a Company Voluntary Arrangement (CVA) in July 2016 which saw the closure of around 80 shops.

Just last month, the store withdrew its administration application with nearby shops in Chard, Honiton, Tiverton, Exeter and Minehead all looking set to stay open for the foreseeable future.

The Chard branch, which employed eight people, had only had stock in half the store for a number of months.

Cllr Garry Shortland, mayor of Chard, said: “Obviously this is a sad blow for our town.

“We now have two very substantial properties empty in the town centre with a loss of jobs to the population.”

The shop was opened in November 2009 by then-mayor Jill Shortland, taking over the former Woolworths site.

Simon Bonney, Carl Jackson and Paul Zalkin, partners at corporate recovery and business advisory firm Quantuma, have been appointed to handle the liquidation.

The latest decision means the closure of the remaining 122 stores and the loss of 900 jobs, prior to Quantuma’s appointment.

The beginning of the end was signalled in April this year when the company’s management filed a notice to appoint administrators after Store Twenty One was served with a winding-up notice by HM Revenue & Customs for breaching the terms of the Company Voluntary Arrangement.

This administration application was withdrawn but then a second application was made in June and again withdrawn prior to the court finally issuing an order to wind the company up.

Simon Bonney, Quantuma partner, said: “It is very sad that matters have got to the stage where all the stores were closed by management on Friday following a prolonged period of uncertainty leading up to the liquidation.

“We are now in the process of conducting an orderly wind down and we would welcome contact from any interested parties who may wish to purchase assets of the company.”

Store Twenty One’s turnover in recent years had declined from £95million to £57million with sustained losses over the past few years.

Following the winding up order, the case was passed to the official receiver’s office and a Secretary of State appointment of Quantuma as liquidators quickly followed.

Mr Bonney added: “The traditional retail sector continues to face significant challenges, not least with the changes in business rates. The company was founded in 1932 and unfortunately it is another example of the difficulties arising in the current economy.”