All the remaining La Senza stores are to close say the administrators as no buyers have come forward after the collapse of the lingerie retailer, which went into administration for a second time in July this year.
La Senza, which was a leading UK retailer of women’s lingerie, once owned by businessman Theo Paphitis, has 55 stores across the UK.
In 2011 La Senza UK filed for administration citing “trading conditions” as one of the reasons for closure. The company stated that it had 2,600 UK staff at 146 stores and 18 concessions, and announced plans to close 80 stores.
In 2012 Kuwait based international retail franchise operator Alshaya announced it had reached agreement to take control of much of the ongoing La Senza business in the UK.
Under an agreement with KPMG, previous administrators to La Senza UK, Alshaya UK Limited acquired exclusive franchise rights for the La Senza brand in the UK for an undisclosed sum.
Alshaya at the time said it would retain 60 stores, securing around 1,100 jobs while ensuring the continuation of a strong and popular brand on the UK high street.
This year the Middle Eastern retail group had been looking to sell the business but it seems there were very few interested buyers. By this time the group was under the ownership of Marnixheath, employing 752 people in the UK.
The retailer had...
55 stores when it went into administration again in July, and 30 have already closed.
The remaining stores will close over the next few weeks, according to the Financial Times.
International real estate agents Savills has been appointed to advise on the disposal of the 55 store portfolio.
The remaining stores are Marble Arch, Birmingham Bull Ring, Nottingham, Manchester Trafford Centre, Southampton, Dudley Merryhill, Brent Cross, Aberdeen, Reading, York, Stratford City, Solihull, Enfield, Uxbridge, Dundee, Basingstoke, Oxford Street, Leicester, Watford, Crawley, Liverpool One and Gateshead Metro Centre.
©LandlordZONE® – legal content applies to England and is not a definitive statement of the law, always seek professional advice. If you have questions on these issues go to the LandlordZONE® Forums
— LandlordZONE (@LandlordZONE) September 8, 2014