Womenswear brand Nougat London has appointed administrators, blaming challenging market conditions for a downturn in trade.
Administrators at Zolfo Cooper, which was appointed on Friday (November 21) blamed “a downturn in trade amid challenging market conditions” for the difficulties of the brand, which was founded in 1990.
It is thought that the warm autumn weather and discounting of knitwear and outerwear added to the business’s problems.
The company, which trades under the brand names Nougat, Havren, Nougat Bath and Body and NGT for men, will continue to trade while the options for a sale of all or part of the business are explored. During this period, the joint administrators – Claire Winder, Peter Saville and Anne O’Keefe – said they will “seek to ensure minimal disruption to the supply of goods to concessions stocking the company’s brands”.
Winder, director at Zolfo Cooper, said: “We have reviewed the options for the company with the directors and, unfortunately, poor trading performance means that the business is not able to continue trading in its current form. The administration will provide some time to allow a sale process to be undertaken. Nougat and Havren are strong brands and we expect there to be considerable interest in acquiring them.”