Ultimo news and archive

Ultimo to pull out of the UK and focus on South Asia

Lingerie firm Ultimo, founded by Baroness Michelle Mone, is set to wind up its business in the UK after 22 years. The company will continue trading from its online website until April 15, while its concession stands across the country have already been closed. However, Ultimo will maintain its presence in South Asia, manufacturing and selling...

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Ultimo: Annual pre-tax loss widens to 3.9 mn pounds

British lingerie brand Ultimo has reported a pre-tax loss of 3.9 million pounds (5.1 million dollars) and sales of just 2.2 million pounds (2.8 million dollars) in the year to December 31, 2016, due to costs, expenses and 2 million pounds (2.6 million dollars) in writedowns of intangible assets, reports This Is Money. The report added that these...