Arab Today, arab today fashion chain nicole farhi saved from administration
Last Updated : GMT 08:52:09
Arab Today, arab today
Arab Today, arab today

Fashion chain Nicole Farhi saved from administration

Arab Today, arab today

Arab Today, arab today Fashion chain Nicole Farhi saved from administration

London - AFP

Financially troubled British fashion chain Nicole Fahri has been snapped up by Maxine Hargreaves-Adams after less than a month in administration, officials said Monday. \"We are extremely pleased to have secured the sale of Nicole Farhi to Maxine Hargreaves-Adams, preserving a well-known retail brand,\" said Peter Saville, partner at administrators Zolfo Cooper. The purchase price was not disclosed. The cash-strapped brand, set up by French-born designer Fahri in 1982, went into administration earlier this month on the back of declining demand and higher costs. At the time, administrators Zolfo Cooper said a number of investors were interested in buying the chain. Nicole Farhi employs 119 staff across its six stand-alone and 10 concession stores across Britain and Ireland. Hargreaves-Adams is the daughter of John Hargreaves, the founder of British retailer Matalan.

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