Sixty Group, the parent company of young fashion brands including Miss Sixty, Energie and Killah, is understood to be holding 11th hour talks in Italy with its Asian investors to try and prevent it from falling into administration.
Although full details are unclear, a source close to the situation told Drapers that the Italian fashion group was locked into “very delicate” discussions with Crescent HydePark, who acquired the fashion group in May of this year.
A decision is expected at the end of this week at the earliest.
This is not the first time that the Miss Sixty brand and Sixty Group have been embroiled in financial difficulties.
UK distributor Sixty UK fell into administration in October 2008, only being rescued in April 2009 through a Company Voluntary Arrangement.
In May of the following year it filed for liquidation after the High Court rejected the CVA.
It is understood that several UK-based companies have already expressed an interest in acquiring some of Sixty Group’s brands should the business fall into administration again.