Tue, 01 Jul 2014 | ADMINISTRATION
Administrators at PwC are now on the hunt for a new buyer for La Senza, which has collapsed into administration for the second time in two years.
The business has been operating from 55 franchise stores in the UK with 752 staff.
Robert Moran of PwC has been drafted in as one of the joint administrators. He said: “Like many other retailers, La Senza has been hit hard by the difficult economic environment and a slowdown in consumer spending.”
He added that “there are no immediate plans to close any stores” and that “staff have been – and will continue to be paid for their work”.
The women’s lingerie retailer was previously rescued in a pre-pack administration early in 2012, with a Middle Eastern retail group called Alshaya buying up 60 of its 146 stores in Britain. It had already been swimming upstream for some time due to poor trading in the recession, with KPMG brought in in December 2011 to explore restructuring options.
It was also reported, in January 2013, that La Senza had started a voluntary creditors’ liquidation process on 8th January for the company and La Senza Europe Limited.
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Related information:
Contact the administrators and view basic company financials
La Senza in liquidation
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