Sixty, the company behind young fashion brand Miss Sixty, has insisted that its UK wholesale operation will continue uninterrupted despite a High Court rejection of a Company Voluntary Arrangement administrators of its UK operation proposed last year.
A source close to the company told Drapers that the CVA rejection would have no effect on stock supply and that business would continue as usual. However, Miss Sixty declined to comment or confirm whether a separate, unrelated company was now distributing Miss Sixty stock to its wholesale accounts.
Earlier this week the High Court rejected Sixty UK’s CVA, proposed by administrators Vantis Business Recovery Services and approved in April 2009, as “unfairly prejudicial”. The rejection came shortly after British landlord Mourant & Co Trustees entered a legal battle with the Italian denim firm over two UK store leases at its Metquarter scheme in Liverpool. The original CVA saw several UK loss-making company-owned stores close to help the brand avoid liquidation.
Miss Sixty stockists contacted by Drapers this week were largely unconcerned by the CVA rejection and said they had continued to receive deliveries this week.
Several retailers have reported rising sales of Miss Sixty following several difficult seasons when the collection went off trend and fell out of favour with younger shoppers.