La Senza falls back into administration
Lingerie chain La Senza has gone into administration for the second time in two and a half years. 752 jobs have been put at risk.
In a statement, administrators from PwC said there were no immediate plans for the closure of any of La Senza’s 55 UK stores, and that they would listen to offers for the business.
Joint administrator Robert Moran said: “The challenging conditions in the UK high street are well documented. Like many other retailers, La Senza has been hit hard by the difficult economic environment and a slowdown in consumer spending.”
He added: “The administrators are continuing to trade the businesses as normal for the time being whilst discussions take place with interested parties in respect of a sale. We welcome any approaches to purchase all or part of the store portfolio.”
La Senza was acquired by the UK arm of Middle Eastern retail group Alshaya in a pre-pack administration deal in 2012. Alshaya UK subsequently changed its name to Marnixheath.
In addition to the 55 UK La Senza stores, Marnixheath also operates three Pinkberry frozen yoghurt outlets in London and the South East. The company employs 752 people across England, Wales and Scotland.
Marnixheath said: “Every effort has been made for two and a half years to transform and revitalise the La Senza UK business, but it has continued to experience difficult trading conditions against the backdrop of a challenging economy and the changing dynamics of the UK retail market.”
The North American operations of La Senza and those throughout the rest of the world remain unaffected by the announcement.
