
Seraphine founder left 'heartbroken by collapse of royal favourite maternity fashion brand
Cecile Reinaud, who founded Seraphine in 2002, bemoaned that 20 years' of work were wiped out after the retailer collapsed into administration this week.
Some 95 jobs were lost when the label appointed administrators from Interpath Advisory, after its new owners failed to find a buyer to save its staff and London flagship shop.
The business was bought by private equity outfit Mayfair for £50million in 2023.
In May, Reinaud accused it of losing its way with a rebrand that ditched its 'regal purple' for what she described as a 'Scandinavian' look.
The brand gained global attention when the then Duchess of Cambridge wore its pieces throughout her three pregnancies, including in the first official pictures of Prince George in 2013.
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Reuters
35 minutes ago
- Reuters
Thyssenkrupp steel, workers agree on site closures, less working hours in revamp
FRANKFURT, July 12 (Reuters) - Thyssenkrupp ( opens new tab and trade union IG Metall on Saturday said they had agreed on reduced working hours, lower bonus payments and site closures as part of a push to revamp Germany's largest steelmaker. The accord with steel workers marks a major step in Thyssenkrupp's restructuring, under which the former German industrial icon is planning to turn into a holding company, and comes after renewed tension between management and labour representatives. Implementation of the new collective bargaining agreement, which runs until September 30, 2030, must be approved by IG Metall members at Thyssenkrupp's steel unit TKSE and is pending an agreement on the division's future financing, they said. The agreement follows Thyssenkrupp's announcement that up to 11,000 jobs at the steel unit, TKSE, had to be cut or outsourced and that annual production capacity would be lowered to 8.7-9.0 million tons from 11.5 million tons. "We went to the pain threshold and only made concessions where it was really necessary in order to secure jobs and locations," said Tekin Nasikkol, head of Thyssenkrupp's works council and member of the group's supervisory board. "We have now created the conditions for the company to emerge from the difficult situation out of its own strength," Nasikkol said in a statement. Thyssenkrupp had wanted to reach a deal regarding the restructuring by summer and both sides aim to finalise the current agreement by the end of September. Reaching a wage deal has been seen as a key hurdle to be cleared before Thyssenkrupp can sell an additional 30% stake in TKSE to Czech billionaire Daniel Kretinsky, as planned. The investor already owns a 20% stake via a holding company.


Daily Mail
39 minutes ago
- Daily Mail
Revealed: The precious funds Man United are making from sell-on fees involving former players this summer
Manchester United are making millions in sell-on fees from former players moving clubs this summer. The Red Devils are looking to bolster their own squad after a dismal season last campaign that saw them finish 15th in the Premier League under new head coach Ruben Amorim. Their season could have been somewhat saved had they won the Europa League, but they lost the final 1-0 against Premier League rivals Tottenham and pressure is now on Amorim to perform. After branding his United team the 'worst' in the club's history last season, Amorim has been desperate to improve the personnel at his side, with United officials so far backing him in the transfer market. Matheus Cunha has been the headline arrival at £62.5million from Wolves, while Diego Leon also signed for £7m from Paraguayan side Cerro Porteno. The pursuit for Bryan Mbeumo, though, is still on, with the Red Devils yet to meet Brentford 's valuation of £65m. But Amorim's side have been receiving boosts elsewhere in the market because of former players swapping sides - with Anthony Elanga 's £55m move to Newcastle showcasing just that. According to James Ducker of The Telegraph, Elanga's move to the north east has seen United pocket £6m because of a clause inserted in a former deal. Winger Elanga left Old Trafford for Nottingham Forest in 2023 after struggling for game time at Old Trafford, but quickly became an established Premier League star and a sought-after man. He had spent eight years at United after joining their academy in 2015, making 55 appearances for the first team before departing. The now-23-year-old joined Forest for £15m, but with a reported sell-on clause that would see United bank 15 per cent of profit on any deal. Given he moved for £55m, United are said to have picked up around £6m of the fee. That's also the case surrounding former United left back Alvaro Carreras, who is on the verge of leaving Benfica to join Real Madrid for around £43m. Carreras, 22, spent four years at United having initially joined their youth set-up from Madrid, but failed to make a first-team appearance having enjoyed time on loan at Preston, Granada and Benfica. Last summer, he moved to Portugal permanently for around £7m, which means Benfica will pocket around £36m of profit. 20 per cent of that - £7.2m - will go to United. The money made by the Red Devils could well be added to their transfer kitty this summer as they look to continue to rebuild their squad ahead of a big year for Amorim. They will be hoping to raise more money in sales too, with Juventus reportedly making Marcus Rashford their top target this summer. United have their own bomb squad, with five players told to look for new sides. They are Rashford, Alejandro Garnacho, Tyrell Malacia, Antony and Jadon Sancho. The summer was made harder due to a lack of European competition next season, but the club are understood to be keen to continue adding to their ranks.


BBC News
41 minutes ago
- BBC News
Why does Bradford have so many empty shops?
It may be Bradford's City of Culture year but, according to a report from the Centre for Cities, the city has more empty shops than nearly every city in the UK, and double those in London and think tank report claims Newport, Bradford and Blackpool have the highest retail vacancy rate, while London, Cambridge and Oxford have the why is the city so empty, what is being done about it and is UK City of Culture 2025 the boost Bradford needs? John Varey and his family have been running Blossoms Florist from a unit in Market Street for nine months."It started off as a florist but we're evolving to fit in with the Bradford community," he says."We're also opening up in Darley Street Market. We're opening a plant emporium up there [and] this shop here is going to be turned into a flower cafe. We're evolving." He suggests the city's empty shop problem could be minimised if the council took more of a role in deciding which businesses were based in which units."If all these businesses were owned by Bradford Council it wouldn't end up like this," he says."Because they're privately owned and the guys who own the businesses just want to fill them, they don't care what gets in them. If we had control of what goes in here and the council could sign it off, you stand a better chance."But he adds the City of Culture year has been a boost, and he hopes the city can build on the says: "Ever since the City of Culture signs have gone up, we're getting quite a lot of tourists coming in here and we're changing things into gifts for tourism promoting Bradford."Bradford Council has done an excellent job. What they're doing now is not for today as such. Rome wasn't built in a day. Bradford wasn't built in a day. But it's evolving."This year is a good standard now to build on." Jonny Noble, chief executive of Bradford BID, says the news that Bradford has a lot of empty shops is not exactly new for those who know the city."I've lived in Bradford all my life and it has been recognised for some time to be honest," he says."We've got a lot of not fit-for-purpose retail. In the 1980s and 1990s, obviously Bradford was much more vibrant, shall we say, than it might be classed as now, or the retail scene, generally, in the UK was."Independent retail expert Catherine Shuttleworth agrees."The landlords of Bradford have got to get real and rethink the space, invest in it, and the council have got to work with the landlords to make it somewhere attractive for people to come and open shops," she says."Fundamentally, for a modern retailer, you need easy access. "You need air-conditioned shops, you need buildings you can get in and out of, and you need footfall."The report backs their claims, advising one of the reasons Bradford has a high rate of vacant units is too much Thursday morning in the Kirkgate Centre - which is earmarked for demolition but is yet to have an exact date - there are empty units in the Broadway shopping centre, though busier, there are a considerable number of empty shops.A number of retailers, who did not want to speak on the record, say this is because the Broadway rents are too high and the closure of the Kirkgate Centre is affecting the businesses in that area of the city. Mr Noble says BID does its own research into vacancy rates, and that number is starting to drop."I don't really like the phrase shrinking the city centre, but it's making it fit for purpose and making sure the right offers are there," he says."We had far too much not fit-for-purpose space that was never going to be brought back into use [as] retail space and, with changing shopping habits, we need an experiential offer where people can touch and feel and smell and see."He says the city needs to shift away from mainstream retailers."Retail used to be everything. You'd look down every street around the country and see all the same signs. Well, that is not happening anymore."One thing I would be really keen to see is more independents - they are the life and soul of a city centre."Si Cunningham, chairperson of Bradford Civic Society, says the drop in retail is to do with online shopping."There's an issue with wider national and international trends and retailers are not needing as many branches anymore, so they are consolidating the bricks and mortar branches into bigger regional centres."We do risk cities like Bradford, that are not regional centres, losing out because of that, but that probably highlights why it's important for Bradford to have a really strong independent offer." Does Leeds take all the shoppers? Ms Shuttleworth believes part of Bradford's problem is its close proximity to Leeds and out-of-town retail hubs."We've seen some really high-profile names pull out of Bradford, particularly Marks & Spencer. I think the reason for it is the provision of shopping outside of town," she says."Places like Leeds' White Rose Shopping Centre pull a lot of people in from Bradford."These are easy places to go to, easy places to get in and out of. Bradford's really hard to get in and out of. "Leeds has a fantastic retail offer and is super easy to access either by bus or train." Mr Cunningham says the answer is fewer shops, more restaurants and more culture."We need to make sure we're promoting things like food and drink and cultural experiences rather than retail," he says. "If we just follow the retail trends internationally then we're always going to end up with high vacancy rates."Mr Noble says that shift is already under way, with the opening of Darley Street Market and more cultural venues across the city, such as Loading Bay and Bradford Live."We've got a fantastic offer and the place has never looked as good as it currently does," he says."I am absolutely confident that vacancy rates will drop significantly over the next couple of years and get back to where we feel we should be." Listen to highlights from West Yorkshire on BBC Sounds, catch up with the latest episode of Look North.