All 32 UK stores of Karen Millen and Coast shut down on September 29, Deloitte recently confirmed. The women’s clothing retailers’ 117 UK concession stores also closed recently. Meanwhile, fast fashion retailer Boohoo, which acquired the companies’ online business and intellectual property rights, re-launched both as online-only retailers from October 1.
The acquisition was part of an £18.2 million pre-pack administration deal in early August, according to UK media reports.All 32 UK stores of Karen Millen and Coast shut down on September 29, Deloitte recently confirmed. The women's clothing retailers' 117 UK concession stores also closed recently. Meanwhile, fast fashion retailer Boohoo, which acquired the companies' online business and intellectual property rights, re-launched both as online-only retailers from October 1.#
The pre-pack deal resulted in 62 immediate job cuts, while all other staff members in Karen Millen and Coast’s 1100-strong workforce were put at risk of redundancies.
Fibre2Fashion News Desk (DS)
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