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.
- Where next for 3D design and prototyping?
- What Marks & Spencer's numbers mean for clothing
- Balance essential in garment supply chain
- Apparel buyers miss out on commodity cost savings
- Tanzania adds to Africa’s apparel sourcing mix
- Brandix named PVH ‘Global Supplier of the Year’
- Earthquake damage at Bangladesh garment factories
- Ascena Retail to buy Ann Taylor owner for $2bn
- China and India to exploit trade relationship
- AGOA delays drag on sourcing decisions