Viyella falls into administration
The world's first branded cloth maker calls in the administrators
Insolvency specialist Poppleton & Appleby has been appointed
administrator of womenswear brand Viyella.
Andrew Turpin, of Poppleton & Appleby said in a statement: ‘The Viyella
brand is trusted and respected both at home and abroad, and we expect that the
prospect of a sale of the brand and the infrastructure will raise significant
interest amongst other retailers. Indeed we have already been contacted by
interested parties.’
‘We are currently assessing all options and, for the time being, allowing all
the existing stores to continue to trade while a buyer is sought for the
business.”’
The clothing brand, which was founded in 1784, was the world’s first branded
cloth and recently supplied womenswear to retailers such as Marks &
Spencer. It employs about 450 staff.
Further reading:
Deloitte
in at struggling Passion
