The UK arm of French premium brand Carven is to be wound down after being placed in administration following the collapse of its parent company.
The French company was placed into receivership in May 2018 while it sought a buyer, and went into liquidation in October.
Its UK subsidiary operated from a single shop on Pelham Street in London’s Kensington, which subsequently faced its own financial difficulties. The shop was forced to close in August 2018 and its staff were made redundant.
The UK board sought insolvency advice, and administrators Paul Appleton and Paul Cooper of David Rubin & Partners were appointed to Carven Clothing UK in December with the aim of safeguarding its residual stock and the rent deposit.
The administrators briefly re-opened the shop in the run-up to Christmas to clear the stock. The UK business will now be wound down.
Carven was stocked by a handful of retailers in the UK, including Liberty, Selfridges, Farfetch and Net-a-Porter.
In the latest results filed on Companies House, for the year to 31 March 2017, Carven UK reported a turnover of £476,017, and a pre-tax profit of £17,676. However, due to losses in previous years the firm posted a retained loss of £236,588.