Amanda Wakeley fashion label hires administrators
The company said its trading performance ‘suffered due to the current pandemic conditions’.
Designer Amanda Wakeley’s eponymous fashion label has fallen into administration after failing to secure a rescue sale.
The label, which was a favourite of Kate Middleton, the Duchess of Cambridge, said its trading performance “suffered due to the current pandemic conditions”, which had a particular impact on its flagship Mayfair store and concessions.
The retail brand said it has hired administrators from insolvency experts Smith & Williamson.
Amanda Wakeley launched the brand with its first store in Chelsea in the 1990s and grew the business with the support of famous fans, including Princess Diana.
“To this core team and those who have worked at Wakeley over the years, thank you.
“I am also very grateful for the support and expertise of our leading equity investor who has been a valuable partner since 2012.
“To our customers, many of whom have become our friends, thank you for your loyalty.
“It is an honour to design for you and I am deeply touched by the many messages of support concerning my family and the business through the crisis.”
Colin Hardman, joint administrator on the process, said that despite “significant interest” it was unable to find a buyer and therefore decided to place the business into administration.
“Our principal objective is to maximise realisations for the benefit of creditors,” he said.
“As well as clothing and accessory stock, the business boasts a newly platformed E-commerce site.
“Whilst a small number of redundancies have regrettably been necessary, Amanda Wakeley and a core team of employees continue to support us with our realisation strategy.”
