Sat, 20 Mar 2021 | ADMINISTRATION
Luxury British fashion house Ralph & Russo has announced that it has fallen into administration as a result of the COVID-19 pandemic.
According to the company's board, it has placed itself into administration in a bid to help the brand restructure its business following a significant hit to the retail economy as a result of coronavirus. They added that they hoped the move would prevent Ralph & Russo from collapsing entirely.
Ralph & Russo was founded in 2010 and has gone on to draw a number of celebrity clients. It gained international recognition when the Duchess of Sussex wore one of the label's dresses in her engagement photos. However, orders have since plummeted in the wake of global lockdowns, which resulted in the cancellation of the majority of weddings and red carpet events around the world.
"For the last 11 years Ralph & Russo has been my love and complete passion," said Tamara Ralph, co-founder of the brand. "In the last 12 months we have experienced unprecedented trading conditions throughout the pandemic which has put a tremendous strain on our business and retailers across the world. In spite of these difficulties, we have continued to serve our customers during this time."
She added: "I would also like to reaffirm my commitment to the brand and to taking it to new heights in the future. My clients, staff and I have an unbreakable bond and we will come through this together."
Administrators Begbies Traynor and Quantuma will now be tasked with investigating the company's options as it seeks to secure the future of the brand by refinancing the business. It has been suggested that they will oversee the brand's potential insolvency process, with a pre-pack sale floated as a possible avenue should refinancing fail.
Provider of premium stationery brands to established corporate customer base. The company benefits from an in-house production department, which carries out debossing, foiling and UV printing, along with hand finishing. The company has well establish...
This is a unique opportunity to acquire an independent commercial vehicle hire and sales company with a freehold property in the South West.
FREEHOLD
Opportunity to acquire a well-established dealership offering a diverse selection of premium performance and luxury vehicles at competitive prices.
LEASEHOLD
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.