Premium womenswear independent and previous Drapers Awards winner Foundation has gone into voluntary liquidation.
The main store at 22 Montpellier Walk, Cheltenham, which stocks clothing, footwear and homewares, has closed until further notice, as has the branch in nearby Stow-on-the-Wold. The website has also been taken down.
Corporate rescue and recovery specialist Begbies Traynor has been appointed as liquidator.
Foundation was established by husband-and-wife team James and Gemma Wiseman in 2003. In 2009, they invested in expanding the Monpellier Walk store, bringing in British brands such as Paul Smith Red Label and Vivienne Westwood Anglomania. Other brands it has stocked include Danish label By Malene Birger.
The business won Womenswear Retailer of the Year at the 2010 Drapers Awards for its well-targeted brand mix, “luxuriously welcoming” store and excellent customer service.
It is not known what led to the voluntary liquidation.
Gemma Wiseman has posted this statement on the business’s Facebook page: “With huge sadness and utmost thanks to my amazing team and lovely customers, Foundation is closed until further notice.”
Begbies Traynor has not yet responded to Drapers’ request for comment.