Thu, 09 May 2013 | ADMINISTRATION
Online designer clothing retailer Coggles has been placed into administration.
Andy Clay and David Acland of Begbies Traynor have been tasked with managing its affairs. They are continuing to trade the York-based business while looking for a buyer. About half of its 60-strong workforce has been made redundant.
The online retailer supplies over 200 women’s and men’s designer label collections from fashion houses, up and coming designers and international brands. Established in 1974 as Sarah Coggles, the business expanded to sell its clothing on the internet after the success of its shops in York.
Coggles had grown by 105 per cent after an investment of £3 million was received from Manchester Square Enterprises in 2011. Coggles’ chief executive Mark Bage said the company had predicted a sales figure of £8.1 million for 2013. It had been working on winning another £4 million of investments to further expand its sales, up its global marketing budget and grow brand awareness.
It needed the finance much sooner, however, when weak sales before Christmas hit the business.
Commenting on the administrators’ efforts, Mr Clay said: “We are continuing to trade two of the York stores and the website as usual while we market the business. With its strong brand name and excellent reputation, we are optimistic that a buyer will be found and that Coggles will continue in some form."
“We are currently reviewing the business and making every effort to secure a return for the creditors and a future for the business and staff,” he added.
____________________________________________________________________________
Related articles:
Buyer sought for jeweller Ortak in administration
Bench fashion brand in line for a sale
Find online businesses for sale in the UK
Opportunity to acquire a group specialising in the manufacture and distribution of e-liquids with a strong foothold in this niche market and potential for further expansion through enhancing sales operations.
This is a unique opportunity to acquire a highly respected company, accredited by the RSPCA, with a strong network of loyal clients and expertise in animal health, offering the flexibility of a relocatable operation
LEASEHOLD
This Scotland-based consultancy agency specialises in affordable employee value proposition and employer brand communications, offering a unique opportunity to acquire a business with a strong reputation and an impressive client base across multiple...
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.