Following its failed efforts to find a buyer, British eponymous fashion label Amanda Wakeley has now collapsed into administration.
Clare Lloyd and Colin Hardman from Smith & Williamson have been appointed as joint administrators of AW Retail Limited.
Notably, AW Retail Limited is the trading vehicle for the Amanda Wakeley label.
After the closure of its Mayfair store earlier this year, the fashion label’s business has been running majorly through its website. However, Amanda said that it needed additional working capital to proceed in its intended strategic direction.
Despite all its efforts, Smith & Williamson has been unsuccessful in finding a buyer.
More on this, Colin Hardman, Joint Administrator and Director, Smith & Williamson, said “Despite an extensive marketing process, attracting significant interest and a huge effort from Amanda Wakeley and the company’s staff, it was not possible to find a buyer for the business.”
Therefore, Colin added, the company had to take the decision of putting Amanda into administration.
Thanking the customers for their loyalty, Amanda Wakeley, Founder and Creative Director of the brand, said that the company is also very grateful for the support and expertise of its leading equity investor AGC Equity Partners who has been its valuable partner since 2012.
Amanda Wakeley is mainly known for its evening and cocktail dresses and fashion accessories.
