Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Fenn Wright Manson calls in restructuring firm

Womenswear chain Fenn Wright Manson has called in a restructuring specialist as trading worsens since its acquisition by private equity firm Darwin 17 months ago.

Zolfo Cooper is working with the retailer to explore its options, according to The Independent.

The newspaper reports that administration has been floated if a rescue plan, such as fresh funding, cannot be delivered.

The retailer, which has 17 stores as well as concessions in John Lewis and House of Fraser, was bought by Darwin in October 2010 in a deal which saw its last remaining founder Colin Fenn exit the business. Performance is understood to have deteriorated since Darwin took ownership.

Four of Fenn Wright Manson’s directors, Anju Mahbubani, Patrick Hollwey, Sharon Jones and Claire Lawrence, have recently left the business.

The retailer suffered a pre-tax profits plunge of 58%, to just £864,213, in its last reported financial year to 31 January 2011, despite turnover growing by 15% to £26.35m.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.