Karen Millen and Coast close all stores

Karen Millen and Coast have reportedly closed all their stores and concessions after being bought by online fashion retailer Boohoo in August.

Administrators from Deloitte confirmed to Drapers that a total of 32 Karen Millen and Coast stores in the UK shut on 29 September, while all their 117 UK concessions closed the following day.

Last month, the Australian arm of Karen Millen fell into administration.

In August, Boohoo Group plc acquired Karen Millen and Coast for 18.2 million pounds in a pre-pack administration deal. At the time it was announced that the two brands would continue to trade through their 32 stores and 177 concessions across the country for a short period as the administration process took place.

According to Boohoo, unaudited management information showed that revenues across all operations for both Karen Millen and Coast totalled 174.1 million pounds for the financial year to 28 February 2019, of which direct online sales were 28.4 million pounds.

Photo credit: Karen Millen Australia, Facebook

 

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