15th Jul 2009 17:39
Intimas Group plc
Appointment of administrators
Stuart Maddison, Edward Williams and Rob Hunt of PricewaterhouseCoopers LLP were appointed joint administrators of Intimas Group plc and Intimas Limited ("Intimas" or "the Group") on Wednesday 15, July 2009.
Intimas, which has 200 employees, is a designer and supplier of ladies' intimate apparel including lingerie, nightwear and swimwear with a portfolio of well-known brands including Lepel and Charnos. The Group, which is based in Long Eaton, Nottingham also produced collections for major high street retailers as well as trading through a number of its own retail outlets located around the UK.
The Group has been placed into administration by its directors following a period of difficult trading which has seen the Group struggle with the downturn in the consumer market as well as adverse movements in foreign exchange on imported goods.
Stuart Maddison, joint administrator and partner at PricewaterhouseCoopers LLP in East Midlands, said:
"Intimas is a well known Group with a number of strong brands in its portfolio, which has unfortunately become another victim of the recession. Our main priority now will be to review the outstanding order position and to look to achieve a sale of the business and its key Brands. We are expecting a number of expressions of interest in the business."
John Gibson, chairman of Intimas said:
"Whilst this is a sad day for Intimas, the Directors, working with the joint administrators, will do everything in their power to ensure a future for the business and secure jobs for the current employees."
15 July 2009
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Stephanie Howel, Media Relations |
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