Buyout saves Moda In Pelle

Footwear retailer Moda In Pelle has been bought out of administration for the second time in as many years.

Moda In Pelle fell into administration last month, but the business assets, including stock and fixtures and fittings have been bought by a company called Retailer Software.
Moda In Pelle owner and founder Stephen Buck is a director of Retailer Software.

Moda In Pelle said the administration, which was handled by Leeds-based administrator Armstrong Watson, was part of a wider restructuring of the company and added that it was "business as usual" at its stores.

Moda In Pelle managing director Tom Clark said: "One of the 24 Moda In Pelle companies was put into administration due to a number of factors beyond our control. We are pleased to announce that a sale of the business and assets has been secured and it is business as normal."

Moda In Pelle has a chequered history. It went into administration in 2006, but Buck immediately bought back a slimmed-down store portfolio.
The administration of Moda In Pelle will not affect womenswear retailer Emma Somerset, which is also owned by Buck.

Moda in Pelle has 31 UK stores in locations including London, Manchester and Leeds.