Ellie Louise goes into administration
WomenÂ’s fashion retailer Ellie Louise has been placed into administration.
Administrators Zolfo Cooper said the business had suffered cash flow problems "arising from the current challenging fashion retail environment."
Graham Wild, partner at Zolfo Cooper, said the company’s difficulties had been exacerbated by its acquisition of the Trade Secret brand in 2010.
Leeds-based Ellie Louise, which was founded in 1980, employs 439 staff and has 97 stores across the UK.
Wild added: "Unfortunately, as with many other fashion retailers exposed to declining consumer spend, challenging trading conditions have led to increased financial pressure on this well known brand.
"We intend to trade the business in order to ensure that we identify the best possible outcomes regarding preservation of jobs, the value of the business and returns to creditors. As this work continues we will make further announcements as appropriate."
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