Amanda Wakeley set for liquidation
The luxury fashion business of designer Amanda Wakeley is set to be liquidated after collapsing into administration last year.
Amanda Wakeley was made famous for dressing the likes of Princess Diana and Meghan Markle.
AW Retail (trading as Amanda Wakeley) was known for its dresses, bridal and occasion wear, and had until recently traded from its Mayfair flagship store, The brand also had an established eStore and concessions at prestige department stores.
Clare Lloyd and Colin Hardman of Smith & Williamson LLP were appointed as joint administrators in May 2021.
At the time, Smith & Williamson said the company’s trading performance had suffered due to the current pandemic conditions, in particular at its Mayfair store and its concessions, both of which were forced to close due to lockdown measures. Trading had continued through its eStore and premium teleshopping channels.
However, the firm said: “It needed additional working capital investment to proceed in its intended strategic direction. Regrettably, that funding was not forthcoming.
“After instructing Smith & Williamson LLP to undertake a review of options, the company sought to find a purchaser for the business.”
In an updated to creditors in December 2021, Smith & Williamson LLP said it “had not been possible to secure a going concern sale of the business, as despite a thorough marketing process, no viable offers were ultimately forthcoming”.
When the administrators were appointed, 12 non-disclosure agreements were entered into regarding the purchase of stock while nine members of staff were made redundant.
The brand, which was launched in 1990 and was backed by AGC Equity Partners in 2012, had planned to launch in 2021/2022 into the USA but the move was put on hold due to the Covid-19 pandemic.
A notice has now been filed with Companies House to move from administration to creditors voluntary liquidation.
Email this article to a friend
You need to be logged in to use this feature.
Please log in here