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Nicole Farhi administrators look to sell 9 July 2013

Administrators to luxury fashion and homeware retailer Nicole Farhi have announced there have been over 50 “expressions of interest” from potential buyers.

The company entered administration last week following “a decline in high street spend coupled with rising costs” which resulted in increased financial pressures on the business.

Peter Saville, joint administrator, said: “As expected with such an iconic and deeply ingrained fashion brand, interest has been high.

“We are evaluating the many and varied expressions of interest and look forward to being able to announce a successful conclusion to the process in the coming weeks.

“We would like to thank management and all employees for their professionalism and hard work during this process.”

The administrators have said that there have been over “50 expressions of interest from trade and investment buyers from the UK and overseas.”

Saville, Fraser Gray and Anne O’Keefe, partners at advisory and restructuring specialists Zolfo Cooper, were appointed joint administrators of NF Fashion Limited and NF Acquisitions Limited on 3 July 2013.

Nicole Farhi operates five standalone stores and other concessions stands in department stores such as Harvey Nichols, House of Fraser and Selfridges, as well as a wholesale business.

The company was sold by previous owners French Connection in 2010. It employs 75 staff across its retail network and a further 44 at its London headquarters.

The administrators confirmed that Nicole Farhi gift vouchers will still be accepted and any returns should be made “as soon as possible”, although cash refunds would not be given.

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