Administration news and archive

British fashion label Amanda Wakeley falls into administration

British fashion designer Amanda Wakeley’s eponymous label has fallen into administration after failing to find a buyer, becoming the latest casualty of the Covid-19 pandemic. Joint administrators from Smith & Williamson LLP said the company’s trading performance “suffered” due to the pandemic, in particular at its Mayfair store and concessions...

Business

Ralph & Russo likely to be bought by Gulf investor

Ralph & Russo, the British haute couture house that went into administration last month, is likely to be bought by a Gulf-based owner. Several buyers from UAE and Qatar are thought to be bidding for the British dressmaker, according to Arabian Business. The fashion house, a favourite amongst a Middle Eastern clientele, has boutiques in both...

Business

Ralph & Russo likely to be bought by Gulf investor

BusinessFeatured

New audit rules could prevent companies like BHS and Arcadia Group from administration

After several high profile company collapses - from BHS to Arcadia to Debenhams - new audit reforms and corporate governance is meant to avoid company failures and safeguard British jobs in the future. The proposed reforms would break up the dominance of the “big four” audit firms and strengthen the UK’s position as a world-class destination for...

BusinessFeatured

Vanners bought out of administration

Sudbury-based textiles manufacturer, Silk Industries that trades as Vanners, has been bought out of administration by businessman Roger Gawn. Vanners, which develops and manufactures silk fabrics and products for the luxury menswear, fashion and furnishing markets, fell into administration on November 9, 2020. Silk Industries appointed James...

BusinessFeatured

Cath Kidston secures future with “digital-led” approach

British retailer Cath Kidston, known for its vintage prints and cutesy florals, has secured the future of its e-commerce platform, and franchise and wholesale businesses, while leaving its store estate facing permanent closure. The management team of Cath Kidston confirmed in a statement that “parts of the business” have been transferred by...

RetailFeatured

Debenhams, the end of an era (and 22,000 jobs)

On 9 April 2019, Debenhams entered Administration, spelling the end of nearly 250 years of trading, 220 stores and the employment of 22,000 people. Once a pillar of the high street, Debenhams boasted a proud British heritage that began in 1773 selling luxury fabrics on London’s Wigmore Street in Marylebone. By 1950 it prospered to become the...

Business

House of Holland enters administration

House of Holland, once a staple at London Fashion Week, has entered administration, following news earlier this week that founder and creative director Henry Holland was stepping down from the label to become a brand consultant. Management consultancy firm KPMG has confirmed that Will Wright and Steve Absolom from its restructuring practice were...

BusinessFeatured

Links of London falls into administration

British jewellery retailer Links of London has fallen into administration, putting 350 jobs at risk. The London-based chain, which was founded in 1990 and operates 330 stores globally including 35 stores and concessions across the UK and Ireland, announced that it fell into administration on 8 October and that its website has been temporarily...

Business

Karen Millen Australia enters administration, 7 stores to close

The Australian arm of Karen Millen has fallen into administration, a month after its British parent company announced an administration filing. Deloitte partners Richard Hughes, Tim Norman and Michael Billingsley have been appointed Joint and Several Administrators. Deloitte Australia is now conducting a wind down of the company’s seven...

Retail |UPDATE

UPDATE: Topshop Australia shuts five underperforming stores

London - Five out of nine stand-alone Topshop stores in Australia are set to close their doors for good, in last-minute rescue bid to try and save the overseas franchise of the famed UK high street retailer. Topshop Australia stores in Chatwoods and Miranda shopping centres in New South Wales, Highpoint in Melbourn and Perth have all closed down...

BusinessFeatured

760 jobs at risk as Topshop Australia is placed into Voluntary Administration

London - Topshop/Topman (Austradia Pty Ltd), the separately owned and operated Australian franchise of the high street fashion retailer, has been placed into voluntary administration today following increasing debt. The move sees 760 jobs as well as a number of retail locations at risk. Financial restructuring firm Ferrier Hodgson has been...