Ally Capellino, one of London’s best-known fashion designers, has fallen into receivership blaming the turbulent Asian markets.
After 15 years in the fashion business, Capellino, whose work was ecstatically received at the London Fashion Week (above), has called in Leonard Curtis, the chartered accountancy and insolvency practice, as administrator.
The announcement reflects growing pressure on smaller UK fashion houses which lack the capital needed to ride out the slump in Asia.
Last week, mid-tier firm Robson Rhodes was appointed administrator for London designer GEH. Trading as Grace Collection, GEH boasted high-street clients like Selfridges and House of Fraser.
Paul Barry, a partner at Leonard Curtis who is administrator for Capellino’s company, said the designer offered a strong brand name for potential buyers.
Capellino has a loyal following through her boutique in London and sales to department stores.
Barry estimated that the company’s debts were in the hundreds of thousands and added that he had already been approached by a number of possible buyers.
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