National Luggage and Handbag Retailer enters Liquidation

National luggage and handbag retailer, Bags Etc Limited, which also traded as Domo, entered liquidation on 1st May 2018.

The Company traded from 58 shops of varying sizes around the UK and Ireland, and called in CVR Global after experiencing financial difficulties, resulting in another high street retail casualty.

The Harlow-headquartered retail specialist was formed in 2003 and since then, has grown to a £20 million turnover business, employing around 350 people across their shops and warehouse operations.

CVR’s Elias Paourou said: “Over recent years the retailer suffered with a number of stores in its portfolio that were loss-making as consumers congregated to stronger, premium and central shopping centres, resulting in its stores that were located in suburban shopping centres losing significant traffic flow.

“In addition, the shift in consumer behaviour towards online platforms also provided a detrimental effect on overall sales via stores.

“Consequently the company was not able to continue trading, resulting in liquidation and the staff being made redundant.”