UK: Internacionale receives buyer interest?
High street fashion retailer Internacionale, which entered into administration last month, has received interest from several potential buyers, just-style understands.
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.
Bruce Cartwright, Lyn Vardy and Toby Underwood of PricewaterhouseCoopers were appointed as joint administrators of Internacionale last week.
It is understood PwC has received interest from several parties to purchase parts or a share of the Internacionale portfolio, but not for the whole company.
The administrators, however, declined to comment when contacted by just-style.
Earlier this year, the owner of Internacionale had 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.
- Li & Fung looks to new frontiers for growth
- SOURCING: Worldwide change in cost competitiveness
- More licensing and less M&A for Global Brands
- Gap impressed with supply chain improvements
- Better Work programme poised to expand
- Cambodia mass faintings rise to 896 in first-half
- Ralph Lauren unveils high-performance Polo shirt
- Cambodia garment makers condemn strike protests
- Russia threatens ban on western apparel imports
- China minimum wage rises will be tough to handle
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Global market review of denim and jeanswear – forecasts to 2020
- Prospects for the Textile and Clothing Industry in Turkey
- Global Database of the Top 1000 Apparel Knitting Mills - Company Names, Financial Performance, Key Executives, and Contact Details
- China - ISA Country Report