Home / Knowledge / News / Apparel/Garments / Life & Style Retail Limited in administration
Life & Style Retail Limited in administration
15
Jun '11
RSM Tenon directors Simon Bonney, Peter Hughes-Holland and Tom MacLennan have been appointed as joint administrators, and have begun conducting an immediate review of Life & Style's business, during which period the retailer will continue to trade.

Life and Style Retail Limited was created partly from Ethel Austin, a clothing retailer which began life in the 1930s. In 2008, businesswoman Elaine McPherson bought the firm from administration, although it slipped back into insolvency two years later. The firm was purchased again by McPherson, who renamed it Life & Style in the process. The current procedure marks the retailer's third administration in three years.

Joint administrator Simon Bonney said: “Life & Style has been brought to this situation through poor trading. We are currently looking at all aspects of the business, but with the exception of closures that the business had planned before it was put into administration, stores will remain open for the immediate future.”

Randeep Jandu, heading the Banking & Finance department, and Ashok Patel & Sunny Jandu, heading the Corporate Recovery & Insolvency department at niche city based firm Balsara & Co., will be advising the joint administrators on all legal aspects of the administration of the company.

RSM Tenon is a member of the RSM International network. The RSM International network is a network of independent accounting and consulting firms each of which practices in its own right. RSM International is the brand used by the network which is not itself a separate legal entity in any jurisdiction.

RSM Tenon

Must ReadView All

Courtesy: Ikea

Textiles | On 26th Apr 2017

Ikea’s product sourcing from India to double by 2020

Ikea, the global home furnishing giant from Sweden, plans to double...

Textiles | On 26th Apr 2017

CITA to add insufficiently available fabric in CAFTA-DR

The Committee for the Implementation of Textile Agreements (CITA) has ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search