Speculation is mounting that Calvetron Brands, owner of womenswear labels Jacques Vert, Precis, Windsmoor and Dash, may go into administration for the second time in less than a year.
Calvetron Brands appointed administrators on 2 June 2017. At the time Harold Tillman headed a consortium of investors in buying the business, then known as Style Group Brands, in a pre-pack administration deal.
One source told Drapers administration seemed likely: “It can’t pay its suppliers and they aren’t delivering stock. It is in real trouble.”
One supplier told Drapers he has refused to ship orders to Calvetron Brands unless it pays for goods in advance: “They wouldn’t pay up front, so we have not shipped a single piece. The UK retail market is very tough at the moment and we are very exposed to that.”
Sky News has reported that Duff & Phelps has been lined up as the administrator, and the collapse could happen as soon as tomorrow, 4 May.
Drapers has contacted Calvetron Brands and Duff & Phelps for comment.
Tillman left his position as strategic adviser to Calvetron Brands in December.
Former CEO of Calvetron Shaun Wills left the business in October after two years at the helm. He was this week appointed as interim finance director for clothing and home at Marks & Spencer.