Administration news and archive

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...

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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...

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Beales, one of UK's oldest department stores, falls into administration

Beales, one of the UK’s oldest department stores, has fallen into administration, putting over 1,000 jobs at risk. The department store, which began trading in Bournemouth in 1881, appointed accountancy firm KPMG as administrator on Monday after it failed to find a buyer or additional funding. The chain’s 23 stores will continue to trade and...

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Bonmarché collapses into administration, 2,900 jobs at risk

High street retailer Bonmarché has collapsed into administration, putting 2,900 jobs at risk. The ailing retailer was unable to sustain trading conditions as the high street continues to suffer a downturn amid a drop in footfall, increased business rates and operational costs. Bonmarché currently operates over 300 stores and employs 2,887...

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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...

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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...