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

Apparel/Garments | On 22nd Sep 2017

Govt announces new duty drawback rates for garments

The Government of India has today announced the new duty drawback...

Courtesy: ITMA

Textiles | On 22nd Sep 2017

ITMA 2019 to focus on smart garment technologies

ITMA 2019, the world's largest textile and garment technology...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Karan Arora
Karan Arora

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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