UK: Internacionale faces wind-down on lack of interest
Internacionale could face being wound down following a lack of offers for the high street fashion chain.
Earlier this month, Bruce Cartwright, Lyn Vardy and Toby Underwood of PricewaterhouseCoopers were appointed as joint administrators of Internacionale.
The chain, which operates 89 stores across the UK and employs around 1,000 staff, has fallen into administration three times, the first in 2008 and the second in July last year.
However, it is understood the sale has not garnered as much interest as the administrators who have like. The business, therefore, is likely to be wound-down instead of sold.
PcW declined to comment when contacted by just-style.
Earlier this year, the owner of Internacionale hired advisers to produce a turnaround and contingency plan in a bid to secure support for the business until late March, when the company's ongoing viability would be reassessed. As part of this exercise, 90 redundancies were made, mostly at its head office.
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