Retail entrepreneur Peter Davies, who last week rescued Ollie & Nic as part of a pre-pack administration, is conducting a review of the accessories retailer’s bricks-and-mortar stores and has vowed to resurrect its terminated website.
Davies, together with Richard Sims and Chris Inman - part of the team that undertook a management buyout of Warehouse and Principles from Arcadia in 2001 - set up a company called Onyx Retail to buy the Ollie & Nic brand name, stock and eight of its 11 stores for an undisclosed sum after administrators MCR were appointed.
Davies, who also owns womenswear chain Mint Velvet, said he planned to retain the majority of the eight stores he acquired, which are in locations including Brighton, Bristol and Cardiff, but that he was still in negotiations with landlords over their leases.
Ollie & Nic’s three London stores, in St Christopher’s Place, Whiteleys Shopping Centre in Bayswater and King’s Road in Fulham, closed as part of the administration.
Ollie & Nic founders Jane and Nick Hill will work with incoming managing director Mark Vandenberghe who, up until about 18 months ago, was international director of Monsoon and Accessorize.
Ollie & Nic’s transactional website, which is currently closed, will be reinstated. Davies did not rule out international expansion. Mint Velvet and Ollie & Nic will be run separately.