DW Clothing Limited, the trading division of tailoring business A Suit That Fits, has fallen into liquidation, leaving debts of more than £2m.
Daniel Warwick, director of DW Clothing, blamed the collapse on a weak retail environment, Brexit-related import price rises and an earthquake in Nepal, where the company manufactures its clothing, according to The Times.
Unsecured creditors are said to be owed more than £2m, a sum which includes an “intercompany” debt to DKSG Bespoke. DKSG Bespoke was behind a crowdfunding campaign for the business, raising almost £1.5m, most of which was injected into A Suit That Fits, according to Warwick.
A Suit That Fits is currently still trading under a new company run by Warwick – Tailored Franchises.
The business was originally founded in 2006, but collapsed into administration in 2013, before its assets were sold to DW Clothing.