Liverpool One, Merseyside, UK 4th September, 2014. La Senza in St John's Street Closing. Lingerie chain La Senza has fallen into administration for the second time in two years. The company runs 55 franchise stores in the UK and currently employs 752 staff. Administrators had said there were "no immediate plans to close any stores" and appealed for those interested in buying the enterprise to come forward. La Senza UK previously went into administration in January 2012, closing more than 80 branches. Liverpool's business district.
The UK and Ireland franchise was bought in 1998 by entrepreneur and Dragon's Den star Theo Paphitis, who revived its fortunes and sold his stake to Lion Capital for £100m. When the chain went into administration in 2012, Mr Paphitis mourned the decline of a "very profitable company". "It's sad because it's a company that I used to consider was my baby back in the early 2000s and it's sad to see it go off the High Street," he said. "But it's a sign of the times, I suppose." Joint administrator Robert Moran says: "Like many other retailers, La Senza has been hit hard by the difficult economic environment and a slowdown in consumer spending. "The administrators are continuing to trade the businesses as normal for the time being whilst discussions take place with interested parties in respect of a sale. "We welcome any approaches to purchase all or part of the store portfolio. "There are no immediate plans to close any stores and the administrators shall continue to assess the trading strategy over the coming days and weeks. "Staff have been – and will continue to be paid for their work. The company and the administrators are making every effort to help staff at this difficult time."
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Location: Liverpool, Merseyside, UK
Photo credit: © MediaWorldImages / Alamy / Afripics
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