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.
- M&S project benefits garment worker health
- M&S to launch supply chain human rights policy
- Leveraging the business benefits of 3D design
- Bangladesh woos buyers with sustainable production
- Compliance in China continues to improve
- Myanmar makers mull shut-downs over wage plans
- American Apparel to close stores and cut jobs
- Cotton tracing "biggest challenge" for M&S
- Chinese shoe factory collapse kills 12
- Lee ReThink taps into sustainable supply chain