BusinessBusiness RecoveryRSM Tenon administrators appointed to fashion label Fenchurch

RSM Tenon administrators appointed to fashion label Fenchurch

Pricing pressures squeeze margins, plus supply problems, hits Fenchurch's cashflow

ADMINISTRATORS from RSM Tenon have been appointed to fashion label Fenchurch.

The company, incorporated in 2005, is a well-known label that sells through more than 900 independent retailers through the UK, Spain, France and Germany.

Fenchurch recently opened four stores in Covent Garden, Cardiff, Bristol and Glasgow together with an online shopping facility.

Delays in production targets from producers in China has, in turn, delayed deliveries to retailers, said administrators. Pressures on profits margins from aggressive pricing in China, and increased cotton prices, have all contributed to cashflow problems at the business.

Gareth Roberts, director at RSM Tenon and joint administrator, said: “We are anticipating a high level of interest from prospective purchasers of the business and assets as it is such a well known brand in the sector. The business has seen positive growth in recent years with a strong presence in both the UK and Western Europe but is in need of additional working capital.”

“We are confident of achieving a sale of the business and assets in the near future so protecting the brand and its staff.”

 

Related Articles

SFP sells off Pixel Projects and saves all staff

Business Recovery SFP sells off Pixel Projects and saves all staff

1y Stephanie Wix, Writer
Administrators from KPMG appointed to City Motor Holdings

Business Recovery Administrators from KPMG appointed to City Motor Holdings

1y Richard Crump, Writer
Begbies Traynor appointed administrators of William Anelay

Accounting Firms Begbies Traynor appointed administrators of William Anelay

1y Richard Crump, Writer
Smith & Williamson appointed administrators of 4Children

Accounting Firms Smith & Williamson appointed administrators of 4Children

1y Richard Crump, Writer
Cowgill Holloway concludes sale of film distributor Metrodome

Accounting Firms Cowgill Holloway concludes sale of film distributor Metrodome

1y Richard Crump, Writer
FRP Advisory sells Harland Machine Systems to Accraply Europe

Accounting Firms FRP Advisory sells Harland Machine Systems to Accraply Europe

1y Richard Crump, Writer
CVR Global sells DMG Steelworkers out of administration in pre-pack deal

Accounting Firms CVR Global sells DMG Steelworkers out of administration in pre-pack deal

1y Richard Crump, Writer
CVR Global administrators appointed at foreign language school

Accounting Firms CVR Global administrators appointed at foreign language school

1y Richard Crump, Writer