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.
- ‘Fixing Fashion’ one stitch at a time
- Why China 5-year plan won't change garment-making
- Five ways to tackle market and demand volatility
- Freeing up working capital in the supply chain
- Hungary offers a mix of strengths and weaknesses
- German sustainable textile scheme heads to Vietnam
- Uniqlo under fire again for China worker abuses
- Golden Lady creates a new man-made fibre
- 3D tool uses product data to shake up shopping
- Fast Retailing in deal for laser treated garments
- Wearable technology: The future market potential for smart garments and e-textiles
- Practical Brand Sourcing Strategy
- Statistics: Trends in Global and Regional Man-made Fibre Production - 2015
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Trade and Trade Policy: The World’s Leading Clothing Exporters and Key Markets 2015