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

LN-CC bought out of administration

London concept store LN-CC has been bought by an Italian ecommerce specialist after falling into administration last week.

The Level Group, which is a Milan-based online service provider, has now reformed the LN-CC business as a new legal entity. Founder John Skelton will stay on as the creative director and the retailer’s core proposition will remain the same, according to reports.

This moves follows reports from Drapers last September that the Dalston retailer was awaiting a £4m investment and was unable to pay a number of its stockists while it waited for the next tranche of funding from an unnamed investor

Skelton told The Business of Fashion: “We had explosive growth from the first year, really over the last three years. But with double-digit growth, it kind of got to a point where cash flow was becoming so tight that it was becoming impossible to get the product in on time,”

He added: “We started this whole thing as a group of younger fashion-forward individuals that wanted to do something different and, unfortunately, we didn’t have the same kind of backbone and support for financial structuring, logistics, fulfilment… we’ve never really nailed the actual business side of our offer.”

 

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.