A womenswear supplier to high street multiples and etailers, including New Look, Miss Selfridge and Asos.com, has gone into voluntary liquidation after 10 years of trading.
Webwear, which had approximately 25 employees, has closed its head office at 26-28 Bedford Row in London and its website has been taken down. It is understood the majority of staff have been made redundant.
It comes after corporate rescue and recovery specialist David Rubin & Partners was appointed as liquidator on May 14.
A source close to the situation said the business went under after one large retailer decided to move to an offshore supplier.
“One customer changed the way they were trading and decided to buy abroad. Webwear’s turnover virtually disappeared overnight. It was a difficult decision [to go into liquidation] but the business couldn’t continue with the overheads it had,” he said.
Gavin Wise, the joint owner of Webwear, has since set up another supply business called Vertical Clothing. The new company has taken on a “skeleton staff” from Webwear, including former sales director Hayley Nineberg, who is now director at Vertical Clothing, and former Webwear sales executive Francesca O’Connell, who has taken up the role of account manager.