CHARD’S Store Twenty One is to stay open after the company was not put into administration.

The company, which is owned by Alok Industries, had an administration hearing adjourned until last Friday to give them more time to sort out refinancing.

Now, a spokesman for AlixPartners, Store Twenty One’s advisors during the administration period, said “the administration application was withdrawn by the company”.

The Fore Street shop has put up signs saying it will remain open and the manager has also confirmed the good news.

Cllr Garry Shortland, mayor of Chard, said: “I did see something in the windows saying ‘we are stayng open’.

“That is fantastic news for the town.

“The only concern that I have is how long it will take for them to be fully restocked.”

The shop, which currently employs eight people, only has clothing in the front half of the store.

Cllr Shortland added: “Of course this is fantastic news for the people who are employed there, the staff, and it is fantastic news for the town as a whole.”

Chard Business Voice represents businesses in the town and helps them come together with networking events.

A spokesman for the group said: “Chard Business Voice is absolutely delighted at the news that Store Twenty One is one of the shops that is not closing.

“We wish them the very best of success in the future.”

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

Nationwide, the chain employs more than 1,000 people and has around 125 high street shops.

For more information about Chard Business Voice, visit chardbusinessvoice.com.