Premium footwear chain Author Shoes, owned by David Casey, the co-founder and former owner of Office, has gone into liquidation owing £3.5m.
The principal unsecured creditor of the business is the sole director, Casey, who is owed £3.1m from a director’s loan account.
Footwear suppliers including Church, Grenson, Ted Baker and Loake, were owed £42,232, according to documents filed by accountancy firm Armstrong Watson.
The seven-store chain, registered as Author (London) Limited, racked up “substantial losses” caused by the recession. The retailer also blamed inflated expenses, reduced mark-up and “abysmal” weather for the company.
The Olympic Games had also had a negative effect on trading, driving tourists away from the West End of London, Author Shoes said.
In the company’s most recent financial accounts for the year ended September 30, Author (London) registered a loss of £1.7m.
The company, which launched in 2008, closed the last of its stores on Charing Cross Road last week. Twenty-six redundancies have been made at the business.
At a general meeting of shareholders on April 8, Michael Kienlen and David Robson of Armstrong Watson in Leeds were appointed joint liquidators.
In 2003 Casey sold office to Sir Tom Hunter’s investment vehicle West Coast Capital in a deal reported to be worth £15m.