Tue, 23 Jul 2013 | ADMINISTRATION
Maxine Hargreaves-Adams, the daughter of Matalan’s founder, has rescued Nicole Farhi from administration.
Nicole Farhi entered administration in early July as the latest casualty on the British high street, with Zolfo Cooper taken on to find a buyer to save the well-known retail brand. The business, which had fallen into the gap between demand for either high-end luxury clothing and discount apparel, had attracted interest from over 50 third parties.
Over 120 jobs across its five shops and ten concessions in Harvey Nichols and Selfridges department stores, among others, were left hanging in the balance after the news.
The founder of the rescued business Nicole Farhi herself had been pinpointed as a potential buyer. She established the business in 1982 with her husband at the time, Stephen Marks, who founded French Connection.
Ms Hargreaves-Adams, a former head of womenswear at Matalan, also bought women’s clothing retailer Fenn Wright Manson in March 2012 from Zolfo Cooper. She invested in the online fashion retailer Damsel in a Dress, with her father, earlier this year.
The financial details of her latest deal have not been disclosed, nor is it clear how much of the business she will own after the purchase has completed.
“I am delighted to announce that we have been able to acquire Nicole Farhi – an iconic and much-loved British brand,” Ms Hargreaves-Adams said. A spokeswoman said they will take the brand back to its beginnings in luxury with a focus on quality and standards.
Peter Saville at Zolfo Cooper commented on the deal: “We wish Maxine and the company’s employees all the best for what we believe will be a successful future for the business.”
_________________________________________________________________________
Related information:
Administrators seek buyer for Nicole Farhi
Read more about buying a business
An established dental practice in the Midlands is available for acquisition, offering a prime opportunity for professionals seeking to expand their presence in the region.
LEASEHOLD
This is a rare opportunity to acquire a well-established dental practice in a prime location in Yorkshire, offering a loyal patient base and potential for growth.
LEASEHOLD
An established dental practice in the heart of Essex is now on the market, offering a prime opportunity for investment in a thriving community.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.