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

Nicole Farhi creditors could lose £3m

Nicole Farhi’s unsecured creditors could be set to lose almost £3m in the wake of the brand falling into administration last month.

The luxury label had debts of almost £20m when it went under, including £15.7m the brand owed to its owner Kelso Place Asset Management, according to The Telegraph.

According to the administrators report unsecured creditors stand to lose £2.9m. The company suffered a period of “sustained losses” and needed “significant further funds” to be able to supply its autumn collection, the statement said.

The luxury label collapsed into administration in July but was snapped up by fashion entrepreneur Maxine Hargreaves-Adams later on in the month. According to the administrator’s statement of proposals, the deal was worth £5.4m and beat offers from five other parties.

As part of the deal Hargreaves-Adams, the daughter of Matalan founder John Hargreaves, acquired Nicole Farhi’s London flagship store, three further stand-alone stores, two outlet stores and its head office.

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.