Major fashion label enters administration

Fri, 06 Mar 2020 | ADMINISTRATION



East-London-based fashion label House of Holland has appointed advisory firm KPMG as administrators and said it is seeking “additional investment” in order to continue trading.

The label, founded by designer Henry Holland, is famous for its t-shirts bearing branded slogans and has been endorsed by celebrities including models Agyness Deyn and Lily Cole.

Its brand is sold by retailers worldwide, including Selfridges and online retailer Net-a-Porter. However, its key outlet of department stores have come under pressure recently, with companies such as Debenhams and House of Fraser closing stores.

House of Holland had a decade-long collaboration with Debenhams, which is understood to have come to an end last year.

Holland announced earlier this week that he was stepping down from his role as creative director at the company in order to become a brand consultant.

The label has now appointed Will Wright and Steve Absalom from the restructuring practice at KPMG as joint administrators, citing a period of “difficult trading”.

KPMG has said that House of Holland will continue trading online and via wholesale accounts and that its seven staff will be retained while administrators seek further investment to keep the brand afloat. The company has total current assets of £1.3 million.

Joint administrator Will Wright commented: “House of Holland rose to prominence as a forward-thinking British label, with its signature slogan t-shirts and collaborations with a number of high street brands.”

“However, with apparel experiencing the same difficult trading pressures as others across the UK retail market, the company needed to raise additional investment in order for it to continue.”


Share this article



Latest Businesses for Sale

E-commerce Reseller of Rare Books
Gloucestershire, South West, UK

In principle, the business deals with rare books sales, which are generally Non-fiction, First Edition and in Good Condition, worldwide via the internet. Offers invited.

Asking Price: Offers Invited
Turnover: £310,000

LEASEHOLD


Discount Grocery Retailer
North of England, UK Wide

Specialises in the retail of a range of quality clearance groceries, confectionery, soft drinks, pet food, alcohol, toiletries and household products to the general public.Specialises in residual stock, in addition to the disposal of items with minim...

Asking Price: Offers Invited
Turnover: £5,100,000

FREEHOLD


Bathroom, Kitchen Design, Building & Installation
Surrey, South East, UK

Well respected and renowned business, established in the area in 2000 and now offered for sale due to our clients wish to now semi-retire. The business is run and managed by our client with 3 other members of the main team as well 2-3 teams of constr...

Asking Price: £999,950
Turnover: £1,500,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
27
 
Mar
 

Addison Lee acquired by consortium of investors | BUSINESS SALE

Addison Lee Group, London’s biggest private care hire ...

 
26
 
Mar
 

Leicestershire building products firm enters administration | ADMINISTRATION

Leicestershire-based System Building Products Limited has en...

 
25
 
Mar
 

Kaupthing plans sale of Oasis and Warehouse | BUSINESS SALE

Icelandic-owned UK women’s fashion retailers Oasis and...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
19
 
Mar
 

North East contractor enters administration | ADMINISTRATION

Newcastle-headquartered general building contractor P F Burr...

 
04
 
Feb
 

Historic East Cumbria newspaper looking for buyer | ADMINISTRATION

The Cumberland & Westmoreland Herald, a 160-year-old East Cu...

 
14
 
Jan
 

Beales in sales talks to avoid administration | ADMINISTRATION

Department store chain Beales is in talks with two potential...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources