Marchpole in administration

Marchpole has gone into administration

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Marchpole, the brand house and supply group, has gone into administration.

Marchpole, which had its shares suspended last week pending clarification over its financial position, was placed into administration last night.

Martin Ellis and Andrew Hosking of Grant Thornton have been appointed administrative receivers of Marchpole.

Grant Thornton is seeking purchasers of the operating companies in conjunction with key stakeholders.

Marchpole owns or has the license for JC de Castelbajac, Emanuel Ungaro, Boateng and Home Body. It also owns footwear supply company Greenmark.

Marchpole also signed a joint venture agreement to produce menswear for DKNY earlier this year. The DKNY deal is held in a separate company in which Marchpole has a 90% stake. DKNY has the remaining 10%.

Marchpole swung to a pre-tax loss of £6.1 million for the 53 weeks ended April 5, against a £6.3m profit the previous year.