Administration news and archive

Dion Lee places Australian arm into administration following investor departure

New York Fashion Week regular Dion Lee has placed its Australian arm under administration, appointing insolvency firm dVT Group to oversee the procedure and explore the next steps. The move comes after the brand, which hails from Sydney, Australia, saw Cue pull out as an investor after the local retail chain underwent a “strategic review”. DVT’s...

ManagementFeatured

Ted Baker to close 11 UK stores, 245 jobs to be lost

Weeks after the appointment of administrators for its UK arm No Ordinary Designer Label (NODL), Ted Baker has now confirmed that 11 of its stores in the region are set to close. All sites are expected to cease trading by April 19, triggering the loss of 120 store roles. In addition to this, 25 head office roles have also been made redundant “as...

Business

DK Company takes over the insolvent fashion brand Wood Wood

The Danish conglomerate DK Company has taken over clothing brand Wood Wood, which had slipped into insolvency last year. In autumn 2023, the company closed a number of stores, including a branch in Berlin and in London's Soho district. Another branch in Berlin and a shop in Aarhus had already been forced to close in the spring. Through the sale...

ManagementFeatured

Ted Baker calls in administrators for UK arm

British retailer Ted Baker has called in administrators for its UK operations after struggling to deal with the damage caused by a partnership with former collaborator AARC. As such, independent director Russell Downs and No Ordinary Designer Label (NODL), a subsidiary of the brand’s parent company Authentic Brands Group which trades under the...

BusinessFeatured

Frasers Group puts Matchesfashion into administration

Matchesfashion has been placed into administration as the new owner, Frasers Group, battles with discontent from suppliers. The troubled retailer, rebranded to its original name Matches last year, reportedly owes payments to numerous suppliers, prompting an exodus of brands that no longer wish to be stocked on the site. “While Matches’...

Business

The Body Shop’s German business falls into administration, Belgium next

Following the fall into administration of its UK business, The Body Shop’s German stores are now beginning to close down after also taking the plunge, a process that will reportedly soon follow in Belgium. The closures are being carried out by restructuring specialist Aurelius, which snapped up the cosmetics retailer in an acquisition deal last...

Business

The Body Shop appoints administrators, thousands of jobs on the line

Cosmetics retailer The Body Shop has officially fallen into administration in the UK, appointing insolvency experts FRP Advisory to oversee the process. The move could put over 2,000 jobs at risk, various media have reported, with the company currently operating more than 200 shops throughout the UK. According to FRP, which released a statement...

Report

Germany's KaDeWe Group files for insolvency

The KaDeWe Group, which operates the luxury department stores KaDeWe (Berlin), Oberpollinger (Munich) and Alsterhaus (Hamburg), has filed for insolvency. However, the stores will continue to operate, the company told the German Press Agency on Monday. Insolvency proceedings under self-administration have been applied for. The retail company...

Business

Designer Childrenswear files for administration

Family-owned retailer Designer Childrenswear has fallen into administration, becoming yet another UK-based name to fall victim to the cost-of-living crisis that continues to grip the nation. Andrew Haslam and Allan Kelly, partners of FRP Advisory, have been appointed joint administrators of the case, according to filings with the region’s...

BusinessFeatured

Administrations, liquidations and debt: UK fashion financial woes of 2023

This year has been one of the more rocky periods for businesses in the UK, with the cost-of-living crisis continuing to wreak havoc on retail and consumer buying power as a whole. The impact has been apparent through a succession of vacant units on British high streets and in city centres, and even in the typically resistant e-commerce...

Business

Thought Clothing reportedly falls into administration

Thought Clothing is understood to have fallen into administration after it failed to find a buyer for the company, leaving around 20 of its employees redundant. The sustainable brand will reportedly continue trading, according to Drapers which initially reported on the news, but all employees in non-trading roles have been made redundant....

Business

Wilko to file for administration after failing to find funding

UK homeware and beauty retailer Wilko has filed a notice of intention to appoint administrators after it failed to find funding or secure a sale of the business. The privately-owned budget chain said that it had issued the notice with the High Court, a move that could potentially put 12,000 jobs and 400 stores at risk. The decision now provides...