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Kookaï to wind down UK operation

Womenswear retailer Kookaï is winding down its UK business as part of a solvent liquidation process.

According to reports, Asher Miller, partner and insolvency practitioner at David Rubin & Partners LLP has been appointed to handle voluntary liquidation of Kookai UK Limited.

Kookaï, which is owned by the French-based Vivarte Group, is retrenching back to France and withdrawing from the UK completely.

The UK arm of the business had been minority owned by investment vehicle Amery Capital.

However, fashion industry veterans Michael and Maurice Bennett of Amery Capital, resigned as directors of the business in January.

Matthieu Dietsch was appointed as managing director of the UK arm in 2008 but resigned at the end of October last year.

In the last set of published results for the full-year to August 27, 2011 Kookaï UK reported that sales dropped 24.6% while pre-tax losses stood at £2.5m.

Miller said that Kookaï had repaid all sums owed to creditors ahead of its withdrawl from the UK.

Kookaï UK operates via four concessions in two branches of John Lewis, Selfridges Manchester, De Gruchy in Jersey, and a transactional website.

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