High street lingerie retailer La Senza has entered administration for the second time in as many years, putting 750 jobs at risk.
Marnixheath Limited, which trades the La Senza franchise in the UK and Ireland, has entered administration following “very difficult trading conditions”.
Marnixheath operates 55 stores under the La Senza brand in the UK, as well as three Pinkberry outlets under the Pinkberry brand. In total the company employs 752 staff across England, Wales and Scotland.
La Senza previously entered administration in January 2012, resulting in the closure of over 80 UK stores. The company was acquired by Marnixheath, then named Alshaya UK, saving over 1,000 jobs.
Robert Moran, Mike Jervis and Stuart Maddison of PwC have been appointed as joint administrators of Marnixheath Limited, today (1 July).
Moran, director at PwC, said: “The challenging conditions in the UK high street are well documented. 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. ”
Last week, high street fashion retailer Jane Norman entered administration for the second time in three years.