The best of the fashion business related headlines from the weekend newspapers…
The Mail on Sunday said that Streetwise Sports, a company formerly owned by Sports Direct, is set to go into administration this week following a meeting of creditors. Streetwise Sports has 30 stores and is now controlled by Melvyn Reiss and Stephen Mucklow, who acquired the business from Sports Direct in December. Separately the newspaper reported that Reiss and Mucklow had also placed discount chain Madhouse (formerly known as Cromwells Madhouse) into administration two weeks ago. Sports Direct bailed out Cromwells Madhouse in 2004.
Separately The Mail on Sunday said that Jason Granite, who has investments in branded fashion chain Envy and footwear chain Faith, was a potential bidder for JJB Sports’ Original Shoe Company and Qube chains, which are due to go into administration this week.
The Daily Telegraph reported that there is an “ongoing legal dispute” between Hookedge, the company behind footwear label Patrick Cox, and Lord Edward Davenport, who offered to pump £2.6 million into the ailing company last year. Hookedge allege that the money never materialised and that Davenport has been attempting to license out the Patrick Cox name without permission. Davenport told the newspaper he had put money into Hookedge but said he could not recall how much. He added that everything he had done had been within the “legal framework” and with advice from lawyers.
The Daily Telegraph also said that high street retailers including Next and George at Asda are to change the sizing of kid’s clothes to take into account the growing number of overweight children. The retailers are measuring 6,000 children and manufacturers will use the results of the sizing survey to decide how to change sizing.