Ellie Louise, a Leeds, UK-based womenswear retailer having own labels, has been placed into administration owing to financial problems.
The company had bought Happit out of administration in 2008, followed by the Trade Secret brand in 2010. This had affected cash flow and profit margin at Ellie, according to its newly-appointed administrator Zolfo Cooper.
The difficult trading environment in the retail sector due to declining consumer spending has put an additional pressure on the brand, according to Zolfo Cooper.
Founded in 1980, Ellie Louise currently operates 97 stores for its Seconds Ahead, Trade Secret, Budget Box, Happit, Gimbles and Ellie Louise brands across the UK.
The administrator intends to run the business at Ellie Louise stores as usual while the best solution for preservation of jobs and returns to creditors is identified.
At present, Ellie Louise employs 421 people at its stores and another 18 at its head office.
Fibre2fashion News Desk - India
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