UK: La Senza in administration for second time
La Senza has been placed in administration
La Senza's UK operations have been placed in administration for a second time, despite sustained efforts to make the businesses more commercially viable.
Robert Moran, Mike Jervis and Stuart Maddison of PwC were today (1 July) appointed as joint administrators.
Marnixheath, the company behind La Senza, operates 55 of the lingerie brand's stores across the UK, employing 752 staff.
The La Senza UK store portfolio was acquired in 2012, but has experienced difficult trading conditions. It previously went into administration in January 2012, closing more than 80 branches.
The group's North American operations, and throughout the rest of the world, however, remain unaffected.
"The challenging conditions in the UK high street are well documented," said Moran. "Like many other retailers, La Senza has been hit hard by the difficult economic environment and a slowdown in consumer spending."
The administrators will continue to trade the businesses as normal while discussions take place with interested parties in respect of a sale.
"There are no immediate plans to close any stores and the Administrators shall continue to assess the trading strategy over the coming days and weeks," Moran added. "Staff have been - and will continue to be paid for their work. The company and the administrators are making every effort to help staff at this difficult time."
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