UK: Pink Soda and Peter Werth brands for sale
Administrators say it is business as usual for the Peter Werth and Pink Soda brands after private equity investors withdrew their support.
Brand Acquisitions, the company behind Springrealm which owns the brands, went into administration on Friday (13 May), with a new owner now being sought while trading continues. Several interested parties have already come forward, according to the administrators.
Peter Werth and Pink Soda are wholesalers and retailers of men's and women's fashion respectively and operate from a head office, including warehousing facilities, in North London and a showroom in Manchester.
Peter Werth has a standalone store in Liverpool, 34 concessions within House of Fraser and has around 200 wholesale accounts in the UK, Belgium and Germany.
An undisclosed number of employees at the headquarters have been made redundant, leaving 70 staff across both businesses.
“It is our intention to trade the business as a going concern, with a view to finding a buyer and securing the jobs of the remaining employees," said Jason Baker, a partner at administrator FRP Advisory.
Department store retailer House of Fraser has posted a drop in first half profits after the costs associated with the opening of a new distribution centre offset a rise in sales....
- Yuan devaluation impact mixed for garment firms
- Will Vietnam struggle with impending trade deals?
- Nicaragua apparel and shoe firms to double in size
- The new age of disruption on apparel production
- Supply chain improvements to save Billabong $30m
- H&M scaling up living wage effort to key suppliers
- Myanmar approves first minimum wage
- US Q2 in brief: G-III, Shoe Carnival, J Crew
- EU clothing buyers should brace for higher prices
- PVH “well-positioned” in China despite headwinds
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Ethiopia – the emerging textile and clothing industry
- Global market review of lingerie - forecasts to 2020
- Global market review of denim and jeanswear – forecasts to 2020