The retail subsidiary of premium young fashion business Fashion Rocks has been placed into administration by its new owners, forcing the closure of its two standalone stores and etail business.
Last month, on December 2, the retail arm of the fashion and music business was sold to Retail Investments, a division of retail restructuring specialist Hilco UK, amid reports of poor footfall at Fashion Rocks’ Westfield Stratford store in London, which opened in September.
A spokeswoman for Fashion Rocks Group confirmed to Drapers that Retail Investments placed the retail arm of Fashion Rocks into administration before Christmas on December 23. Fashion Rocks Group continues to exist as a music events business only.
The store at Westfield Stratford closed last week and, while the other store at Sheffield’s Meadowhall continues to trade, a spokeswoman for Meadowall told Drapers that it was due to close down imminently but could not confirm exactly when this would be.
The company’s website, www.fashionrocks.com, is no longer trading as an etail business and is now solely dedicated to Fashion Rocks music events.
The Fashion Rocks concept, launched in 2003, was to bring together big-name designer catwalks with live music performances.
A retail franchise of the business was launched in 2009 and the transactional website went live in January 2011. The store at Meadowhall followed in March and the Westfield Stratford store opened in September. Fashion Rocks sold premium young fashion brands including Bologaro Trevor, M by Missoni, J Brand, Pretty Green, Luke, McQ, Heritage Research and British Khaki.
Retail Investments was unavailable to comment.