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My-Wardrobe 'secures future' following pre-pack

My-Wardrobe has been sold as part of a pre-pack administration, in a deal the etailer said would “secure My-Wardrobe.com’s future”.

On November 18 Alex Cadwallader and Neil Bennett, directors at Leonard Curtis Business Solutions, were appointed joint administrators of Meemi Limited, which trades as My-Wardrobe.com, before then selling the business to Growth Capital Acquisitions.

The immediate sale will save 48 roles and the My-Wardrobe business will continue to run most of its operations from the Nottingham office, keeping its buying and merchandising teams in London.

Last month the etailer revealed it was to merge its London and Nottingham offices, resulting in all but the buying team relocating from the capital. The 130-mile relocation is due to take place from early next year, with only Carmen Borgonovo and her team remaining in London.

The premium and luxury site said the move was part of “an ongoing process of restructuring”, which has recently seen the redundancies of brand director Leanne O’Shea and art director Ruth Cozens, both of whom were founder members of staff.  

Chief operating officer Andrew Curran said: “We now face the future with confidence. I am pleased this difficult period is behind us and I am sure this much respected brand will now go from strength to strength. From this secure footing there is much to look forward to in 2014 and beyond.”

 

Readers' comments (4)

  • Dear Mr Curran,
    Since when has My Wardrobe been 'a much respected brand'?
    You and your team have not only successfully trashed the brands and the market place with your incessant discounting and deals but also shown zero respect to all the other smaller retailers in the industry who are trying to make a profit on the stock that they have worked so hard get on there rails, you should be embarrassed by the way your company has conducted itself !!
    I am shocked that there are people out there stupid enough to invest in your company particularly as your chances of selling anything ever again at full margin look considerably small now that you have educated your customers only to buy with a discount code.
    The road back up that slippery slope is a long one and I will be watching every step you take!


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  • Julian Blades on a tirade - he may be correct - but on a public forum?

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  • Why shouldn't he? This has been an issue for a considerable time now.
    Discounting and aspirational brands are not any sort of bed fellows. As Debenhams should know...

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  • When are e/retailers going to learn that you can't working on low margins and expect to survive? Why brands entertained my wardrobe is beyond me, but we work in a largely failed industry.

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