>>
Home / Knowledge / News / Retail / Koovs sold by administrators as Indian FLF fails to invest

Koovs sold by administrators as Indian FLF fails to invest

11
Dec '19
Pic: Koovs
Pic: Koovs
British administrators have sold the business and assets of Koovs Plc to SGIK 3 Investments Ltd, an entity owned by the online fashion retailer’s largest secured creditor and chairman Waheed Alli, Koovs said yesterday after its largest shareholder, India’s Future Lifestyle Fashion, failed to invest a further $8.34 million. Koovs said it could not get alternative funding.

A competitive sale process conducted over the past month had also failed, global newswires cited the company as saying.

A company goes into administration in the United Kingdom when it becomes insolvent and is put under the management of licensed insolvency practitioners. The directors and the secured lenders can appoint administrators through a court process to protect the company.

Geoff Rowley and Jason Baker, partners at specialist business advisory firm FRP Advisory, were appointed as joint administrators to Koovs.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Anton_Ivanov / Shutterstock.com

Retail | On 27th Jan 2022

UK retail sales volumes fall at fastest rate in 11 months in Dec 2021

UK retail sales volumes fell by 3.7 per cent in December 2021, the...

Pic: Shutterstock

Textiles | On 27th Jan 2022

New train route links China’s Suzhou city to Milan in Italy

A new China-Europe freight train route has been started between...

Pic: Shutterstock

Apparel/Garments | On 27th Jan 2022

UN-WTO report underrates Bangladesh's RMG industry progress: BGMEA

The recent United Nations-World Trade Organisation joint report has...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Textile Industry, Head honchos

Textile Industry
Head honchos

Consistency is the first rule of social media

Textile Industry, Head honchos

Textile Industry
Head honchos

Occam's razor principle and purpose-driven innovations

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

Klaus Bergmann,

Klaus Bergmann

German company Erbatech GmbH develops, designs and manufactures high end...

K Madhavan,

K Madhavan

Established in 2005 by P Manjunath, Peps is India's largest inner spring...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Sujata & Taniya Biswas, Suta

Sujata & Taniya Biswas
Suta

Founded by <b>Sujata and Taniya Biswas</b>, Suta is a humble brand which...

Ritu Kumar, Label - Ritu Kumar

Ritu Kumar
Label - Ritu Kumar

<b>Ritu Kumar</b> is the most respected designerwear brand in India...

Raghavendra Rathore, Label Raghavendra Rathore Jodhpur

Raghavendra Rathore
Label Raghavendra Rathore Jodhpur

Being one of the first designers to use the "Brand India" positioning for...

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

Leave your Comments

ESTEEMED CLIENTS

Decathlon
Lululemon Athletica Inc
The LYCRA Company Singapore  Pte. Ltd
BIMBA ;& LOLA SL
Rosset ;& Cia Limited
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Under Armour Global Sourcing Ltd
Walmart
Chico’ FAS
The Top Form Brassiere Manufacturing Company Limited
IKEA of Sweden AB
Gatsby Africa
MAS Active / MAS Kreeda / MAS Bodyline
Etam Group Strategy Hong Kong Limited
Amazon China
Benetton Group
Sportmaster Ltd.
Aramark Uniform ;& Career Apparel, LLC
SYNERGIES HONG KONG LIMITED
Page Industries Limited (Bangalore)
Recron Polyester from Reliance Industries Limited
J ;& P Coats
Arvind Limited
John Varvatos
Permoda(Koaj/Armi/Pronto/Bkul)
Lacoste (Wanchai)
Desigual - ABASIC, S.A.
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Sportswear Company Spa
NITI Aayog
Splash
Rayonese Textile Inc., Division de Culp Inc.
Cat Tuong Real Estate Group Joint Stock Company
Restoque S.A.
T.T. Limited
THE BOMBAY DYEING ;& MFG.CO. LTD
TESCO INTERNATIONAL SOURCING LIMITED
OVS Hong Kong Sourcing Ltd.
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Sateri (Jiujiang) Fiber Co.,Ltd
Calvin Klein
Gloria Jeans
G-Star Raw C.V.
Bluestem Global Sourcing Limited
KAS Direct Sourcing
C;&A Sourcing International Ltd
SHAHI Exports Pvt Ltd
Truetzschler India Private Limited
Tchibo GmbH
BIANCA
Groz-Beckert East Asia LLP
H;&M Hennes ;& Mauritz (Far East) Ltd
Tommy Hilfiger
Huntsman (Singapore) Pte Ltd
Hirdaramani International Export Private Limited
Vardhman Textile Ltd
Helly Hansen Far East Ltd
Varner AS Retail
Abit
KIABI
PVH Corporation
Seasalt Limited
Aquarelle Clothing Limited
Lenzing Aktiengesellschaft
Green Fibre
Vianney Textil Hogar S.A. De C.V.
Landmark Group
Maceton Limited
Target Corporation (MN)
Hela Clothing Pvt Ltd
Babyshop
Phong Phu international JSC (PPJ)
Reiter India Private Limited
Tory Burch Hong Kong Ltd
International Textile Manufacturers Federation
Eastman Chemical Company
Puma
Gap International Sourcing Limited
Gokaldas Exports Limited
Grasim Industries Limited
Alison Hayes Romania
Chori Company Limited
Asos
Esprit Europe Services GmbH
Midas Clothing Limited
Lisa S.P.A.
Alix Partners
Sainsbury's Argos Asia Limited
LC Waikiki
Brandix Lanka Limited

January 2022

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


Advanced Search