Wed, 28 Dec 2011 | ADMINISTRATION
Lingerie retailer La Senza is due to be fitted into administration and was, it is thought, unable to meet its due rent day payment this month.
La Senza’s directors made the decision to call in the administrators known on 23 December, and will bring in KPMG to manage the process, after initially being appointed to explore its restructuring options a few weeks ago. The move leaves the jobs of 2,600 people hanging in the balance.
While a buyer for the 158-store business is sought, La Senza will continue to be traded throughout January in an effort to recover as much as possible for its lenders.
The decision - by its private equity owners Lion Capital - to push La Senza into administration was also put down to tough trading conditions on British high streets and the economic downturn. A company statement read: “The business continues to trade as normal in the meantime and there have been no unplanned redundancies or store closures.”
The founder of the company and Dragon’s Den celebrity, Theo Paphitis, has decided not to buy La Senza and reportedly said: “We tried to engage with them and offer to help buy it was not possible.”
Previous story - La Senza to consider restructuring options.
The company provides a streamlined, tech-supported process for homeowners and residential landlords to acquire new home services, including heating and other infrastructure. The business offers products from leading brands through an automated stock...
The company designs, manufactures, installs and maintains biomass heating systems for industrial premises throughout the UK. The business offers products with varying heating capabilities and capacities, ensuring that it can meet clients’ specificati...
A leading physiotherapy clinic in Loughborough, celebrating over 40 years of service. Known for its expertise in sports injuries and TMJ/migraine treatment.
LEASEHOLD
21
|
Nov
|
Omega Plastics in management buy-out | MBO/MBI
Gateshead-based plastics group Omega Plastics Group has unde...
21
|
Nov
|
Antrim-based Texthelp buys EdTech peer Scholarcy | BUSINESS SALE
Texthelp Group, an Antrim-based Edtech has bought peer Schol...
21
|
Nov
|
Ecommerce group Velstar seals third 2024 acquisition | BUSINESS SALE
Liverpool-based ecommerce specialist, Velstar, has made its ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.