THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Coast enters administration and Karen Millen buys parts of the business

The Coast women’s fashion chain has entered administration and will close all 24 of its stores, although Karen Millen has bought parts of the business thereby saving 600 jobs.

FASHION

Coast enters administration and Karen Millen buys parts of the business

The Coast women’s fashion chain has entered administration and will close all 24 of its stores, although Karen Millen has bought parts of the business thereby saving 600 jobs.

The brand’s staff were informed yesterday that PwC had been appointed as administrators of Coast Holdings, Coast Retail and Coast Fashions. The move means some 300 jobs are still at risk.

Mike Denny, joint administrator, said the businesses had been facing financial difficulties due to structural challenges in the retail space and specifically the concession partner market, as well as a softening of demand for occasion wear.

Coast operated numerous concessions in the collapsed House of Fraser department store chain.

Under Karen Millen, Coast will trade mostly through its websites, in concessions across the UK and through its wholesale and franchise partners. Coast’s standalone stores and the concessions on mainland Europe were not included in the deal.

In a statement, Karen Millen said Coast gift cards and returns will continue to be honoured.

Beth Butterwick, chief executive of Karen Millen, said: “We are excited to be welcoming over 600 Coast employees to the Karen Millen family. With its beautiful fabrics, stunning colours and signature designs, Coast is a much-loved fashion brand that has dressed women for all occasions since 1996. Our expertise and infrastructure puts us in a unique position to create a lean and profitable business, ensuring it remains a thriving destination in department stores and online.”

 

Click here to sign up for your free subscription to Retail Bulletin's retail news email that is sent out every weekday.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019