Alexandra plc collapses- PwC called in

Partners from PwC have been appointed as administrators of Alexandra plc, the clothing supplier to the travel, hospitality, healthcare, industrial and retail industries.

Rob Lewis, Rob Hunt and Derek Howell took over on 12 July 2010.

The company, based in Thornbury South Gloucestershire, and directly employs 484 people at locations including Thornbury, Bristol, Swindon, Langley, Edinburgh and Uddingston, near Glasgow.

Alexandra's directors filed for administration, following its announcement last week that the company did not have enough funding to continue trading.

Alexandra's directors had looked for investors, but talks with a number of parties were unsuccesful.

"Following the public announcement that the fund raising had been abandoned, pressures on the company’s working capital requirements meant that the company could not continue to trade without the protection of an insolvency process," PwC said.

The joint administrators are seeking to sell the business as a going concern, and the administrators are in discussions with a number of interested parties, PwC added.

The company’s subsidiaries are not currently subject to insolvency procedures, although their affairs are being reviewed by the administrators. The subsidiaries employ 174 full time equivalent staff in Morocco, seven in the UK, eight in Southern Ireland and eight in Holland.

Further reading:

Scotland's biggest airline calls in PwC administrators