250 jobs secured as Miss Sixty UK exits administration

10 Apr '09

1 min read

Sixty UK Limited, the trading company for the Miss Sixty and Energie clothing brands in the UK, will successfully come out of Administration within the next month saving around 250 jobs, according to appointed Administrator Peter Hollis, Client Partner at Vantis Business Recovery Services, a division of Vantis, the UK accounting, tax and business advisory group. Sixty UK Limited entered into administration on 1st October 2008.

Creditors and shareholders have agreed, through a Company Voluntary Arrangement (CVA), a revised business model that will enable the company to return to normal trading in a modified and profitable manner.

Commenting on the case, Administrator and now Supervisor of the CVA, Peter Hollis, said: “This is a good news story on an otherwise gloomy high street. It is a triumph for sensible attitudes and strong, reasonable negotiations. Through proper dialogue with stakeholders and management, we have been able to develop a robust trading strategy, while Sixty UK operations continued uninterrupted.

“It is my hope that this will prove a milestone in the processes used and outcomes achieved for the ailing retail sector.”

Vantis plc

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