Nicole Farhi rescued from administration

Luxury British label Nicole Farhi, which entered into

administration earlier this month, has been rescued by Maxine Hargreaves-Adams, the owner of Fenn Wright Manson.

In a short statement from Zolfo Cooper, which handled the administration, it stated that Hargreaves-Adams has acquired all six Nicole Farhi stores, its nine concessions, as well as the wholesale and e-commerce parts of the business.

Commenting on the sale, Peter Saville, partner at Zolfo Cooper said: “We are extremely pleased to have secured the sale of Nicole Farhi to Maxine Hargreaves-Adams, preserving a well-known retail brand. We wish Maxine and the Company’s employees all the best for what we believe will be a successful future for the business.”

Hargreaves-Adams, the daughter of Matalan founder John Hargreaves, added: “I am delighted to announce that we have been able to acquire Nicole Farhi - an iconic and much-loved British brand.”

Nicole Farhi joins a portfolio that includes womenswear brand Fenn Wright Manson, which Hargreaves-Adams acquired in 2012 and Damsel in a Dress.