Ralph & Russo, the womenswear brand from London (UK), has confirmed through a statement released to media that it has collapsed into administration.
The retailer, reportedly, said that it has appointed administrators to revamp its business as COVID-19 has hit Ralph & Russo very hard.
However, the retailer will continue to operate during the administration period.
More on this, Tamara Ralph, Creative Director, Ralph & Russo, said that despite all pandemic-induced challenges, the retailer continued to serve all its customers.
Tamara added that the restructuring process will help refinance the business and allow the brand to do what it loves doing and that would be continuing to produce the best for the women across the globe.
Notably, Andrew Andronikou of Quantuma Advisory and Paul Appleton of Begbies Traynor Group have been appointed as joint administrators.
These administrators will investigate all possible options to secure Ralph & Russo’s future.
The British womenswear brand was founded in 2006 and is majorly known for haute couture and ready-to-wear apparels, luxury goods and fashion accessories.
