Administration news and archive

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...

ManagementFeatured

Christopher and Tammy Kane reclaim brand following administration filing

Christopher and Tammy Kane have rescued their eponymous brand after it fell into administration in an attempt to avoid liquidation. The duo, which founded the company back in 2006, are also believed to have paid back the secured creditors in full, according to administrator FTS Recovery. The firm confirmed in a statement to WWD that the siblings...

Management |

TM Lewin falls into administration for second time in two years

British menswear retailer TM Lewin has fallen into administration for the second time in less than two years. The company, founded over 120 years ago in London, has appointed Will Wright and Chris Pole from Interpath Advisory as joint administrators. Like many formalwear retailers, TM Lewin was hit hard during the pandemic by store closures and...

Report

Steptronic falls into administration

Men’s footwear brand Steptronic has fallen into administration and appointed business advisory firm Kroll as administrator, following supply chain issues. The British brand, based in Rushden, Northamptonshire, named Kroll joint managing directors Jimmy Saunders and Michael Lennon as joint administrators of the brand on March 9. They will market...

ManagementFeatured

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...

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...