Khaadi Fashion rescued in pre-pack deal
Asian clothing retailer Khaadi Fashion has been acquired as part of a pre-pack administration deal by Weaves UK Trading.
Founded in 2013, the retailer previously operated ten stores across the UK in shopping centres such as Westfield Stratford, Westfield Shepherds Bush, Brent Cross, Bull Ring Birmingham, Trafford Centre Manchester and Trinity Leeds.
Six outlets will continue trading after the sale was agreed by administrators Keith Marshall and Gareth Harris of RSM. Khaadi employed just under 100 staff just prior to administration and the sale has secured the majority of those jobs.
A multi-disciplinary legal team from Weightmans advised on the pre-pack administration sale.
James Moore of Weightmans said: “Sadly failures on the high street remain common as the retail sector faces massive structural changes but we are glad that Khaadi has survived. This was a complex transaction that demanded expertise from across our specialist practice areas, safeguarding the majority of roles at Khaadi and leaving a more streamlined and sustainable business.”
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