Staff working for menswear firm Greenwood face an uncertain future after the firm went into administration.
The company has stores in Maritime Terrace, Sunderland; Kings Street, South Shields, and Durham's Silver Street.
Now the firm has called in administrators Deloitte who issued a statement on the current situation: "Adrian Berry and Clare Boardman have been appointed Joint Administrators over Greenwoods Menswear Limited.
"The company is a retailer of formal and casual menswear, including shoes and accessories, with a c£20million turnover. It also offers a formal suit hire service, under the company’s “1860” brand. The company operates from 63 stores and two concessions throughout the UK, with its head office and warehouse located in Bradford, West Yorkshire.
"At the time of the appointment there were 318 employees, of which 292 work in stores, 15 at the head office and 11 in the warehouse."
Adrian Berry said the firm was continuing to trade as normal while efforts werre made to find a buyer: "We are currently assessing the options available to the company, including a potential sale of the business, and are continuing to trade it in the meantime.
"No redundancies are being announced at this stage and we are grateful to the employees for their support at this difficult time.
"This is a challenging time for the UK retail sector, which has affected the company."