The upmarket fashion and homeware retailer Nicole Farhi has gone into administration. The company, founded in 1982 by French Connection boss Stephen Marks and Nicole Farhi herself, operates five standalone stores and sells through department stores including Harvey Nichols, House of Fraser, and Selfridges across the UK.
Restructuring specialists Zolfo Cooper have been appointed to advise the firm, which employs 75 staff across its retail network and a further 44 at its London headquarters. Trading will continue while talks are held with interested parties.
Peter Saville, a partner at Zolfo Cooper, said: 'Nicole Farhi is a very powerful retail brand. Unfortunately, as with many other fashion retailers, the decline in high street spend coupled with rising costs has led to increased financial pressures on the business. We are already in discussions with a number of interested parties who value the strength of the Nicole Farhi brand.'
The company has had two different owners in the past three years and at one time also ran food outlets in London and New York. Customers with gift vouchers may continue to exchange these for goods, but cash refunds will not be given.
