THE FUTURE of 20 Southampton jobs hangs in the balance after kitchen reject chain Spoils went into receivership.
Staff at the discount retailer's store in the Marlands shopping centre face an anxious wait to hear about possible redundancies.
Administrative receivers Ernst & Young are confident that a buyer for the firm can be found and they hope the 700 jobs at 38 stores across the country can be safeguarded.
Joint receiver Alan Lovett said: "We will allow Spoils to trade while a buyer of the business is sought. I am pleased to say that several expressions of interest have already been received. I am, therefore, cautiously optimistic that an early sale can be achieved, subject to the co-operation of the employees, landlords and suppliers."
The company, founded in 1975, has a turnover of £35 million a year, but fell victim to increased competition and margins pressure. The fuel crisis and poor autumn weather also led to falling sales. Christmas trading was not good enough to ensure the firm's survival.
There are five full-time employees at the Southampton store and up to 15 part-time workers.
An Ernst & Young spokeswoman said: "It is being traded as a company with a future. It is believed that because this area of the retail market is expanding, the company is a cherry ripe to be picked." She added that the prospect of redundancies depended on the buyer's takeover plans but that no redundancies had yet been suggested.
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