Latest news with #maternityfashion
Yahoo
08-07-2025
- Business
- Yahoo
Maternity fashion brand worn by Princess of Wales falls into administration
A maternity fashion brand previously worn by the Princess of Wales has collapsed into administration, two years after it quit the London stock market. The majority of Seraphine's 95 employees have been made redundant following the appointment of Interpath as administrators. The business has also immediately ceased to trade. It comes after weeks of attempts to find a buyer for the business, as it battled a cash crunch. While there was some interest following a process that began in June, a buyer for the whole business could not be found. Will Wright, the UK chief of Interpath, said: 'Unfortunately, the strong economic headwinds that have been impacting a number of the UK's high street and online retailers, including rising costs and brittle consumer confidence, have proved too challenging to overcome.' Interpath said it was exploring options for the business and its assets, including the Seraphine brand. It said it was providing support to staff who had been made redundant. Founded in 2002 in London by French entrepreneur Cécile Reinaud, the maternity brand's clothes were worn by the Princess of Wales in 2013 for the first official family portrait following the birth of Prince George. Seraphine's clothing has also been worn by celebrities including Kate Winslet, Anne Hathaway, Sophie Ellis-Bextor and Myleen Klass. The company floated on the London Stock Exchange in the summer of 2021 at a value of £150m. However, it suffered a string of profit warnings and Seraphine's majority shareholder Mayfair Equity Partners, a private equity firm, took it off the stock market in 2023. At the time, Mayfair agreed to inject fresh capital as part of a takeover that valued the company at just £15.3m. Seraphine has continued to struggle since going private. It made an operating loss of £13m on revenues of £42m during its latest financial year. Ms Reinaud, who left Seraphine in 2021, has publicly criticised the stewardship of Mayfair. She wrote on LinkedIn earlier this year: 'My original vision was to create clothes you'd want to wear even if you weren't pregnant. That guiding principle seems to have vanished now. 'Just yesterday, the brand unveiled a new logo that makes it resemble a Scandinavian label. Why abandon our unique British heritage and signature regal purple? 'Seraphine was once a proud example of British fashion entrepreneurship, recipient of two Queen's Awards: now, it seems to have lost its recognisable identity.' Mayfair defended the rebrand at the time as 'a hugely exciting moment for Seraphine, with the unveiling of its enhanced website and refreshed brand identity that incorporated consumer desire for a modernised look and feel.' The company's collapse marks the latest sign of mounting pressure on the high street. A string of fashion brands including Quiz Clothing and Select Fashion have entered administration in recent months. The number of companies in critical financial distress rocketed towards the end of last year, according to corporate restructuring firm Begbies 'Red Flag Alert', rising 50pc between the end of September and December. Retail was identified as one of the sectors facing acute challenges. High street businesses have been battling against a downturn in consumer confidence. Figures last month suggested that nervous families had frozen spending, with the British Retail Consortium finding that retail sales were up just 1pc in the year to May. Like other businesses, shops also face higher costs as a result of the changes to employers' National Insurance contributions and minimum wage, which took effect in April. Mayfair and Seraphine did not respond to requests for comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mail
08-07-2025
- Business
- Daily Mail
Seraphine founder left 'heartbroken by collapse of royal favourite maternity fashion brand
The founder of one of the Princess of Wales' favourite maternity fashion brands said she is 'heartbroken' over its collapse. 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.
The Independent
08-07-2025
- Business
- The Independent
Maternity fashion brand blames rising costs for collapse
Maternity fashion brand Seraphine has entered administration, resulting in the redundancy of the majority of its 95 staff. The company, whose clothes were famously worn by the Princess of Wales, appointed Interpath as administrators on Monday. Seraphine struggled with escalating costs and a challenging consumer spending climate, which proved too difficult to overcome. Despite actively seeking a buyer, the firm was unsuccessful in securing a sale before its collapse. The brand had a stock market flotation in 2021 with a £150 million valuation but was taken private for £15.3 million two years later.
The Independent
08-07-2025
- Business
- The Independent
Fashion label worn by Kate during pregnancy collapses into administration
A maternity fashion firm has collapsed into administration. Seraphine, whose clothes were worn by the Princess of Wales during her pregnancies, appointed administrators from Interpath on Monday. The retailer – which has a flagship store in London's Kensington High Street and also sells online – struggled amid rising costs and a difficult backdrop for consumer spending. The majority of its 95 staff have been made redundant. As its financial woes deepened, it sought to find a buyer but was unable to secure a sale. Will Wright, UK chief executive of Interpath, said Seraphine had 'grown to become a well-known and well-loved maternity brand, known for its blend of comfort and style'. 'Unfortunately, the strong economic headwinds that have been impacting a number of the UK's high street and online retailers, including rising costs and brittle consumer confidence, have proved too challenging to overcome.' Interpath said it was 'exploring options for the business and its assets, including the Seraphine brand'. Seraphine was founded in 2002 by Cecile Reinaud and the brand shot to fame when the princess wore its maternity clothes, which sparked a surge in demand for the label. It floated on the stock market in 2021 with a £150 million valuation but quickly saw its market capitalisation tumble. The group was taken private two years later for £15.3 million by Mayfair Equity Partners.
Yahoo
08-07-2025
- Business
- Yahoo
Maternity label worn by Kate collapses into administration
The maternity fashion firm, whose clothes were worn by the Princess of Wales during her pregnancies, has collapsed into administration. Seraphine appointed administrators from Interpath on Monday in a move that has seen the majority of its 95 staff made redundant. The retailer – which has a flagship store in London's Kensington High Street and also sells online – struggled amid rising costs and a difficult backdrop for consumer spending. As its financial woes deepened, it sought to find a buyer but was unable to secure a sale. Will Wright, UK chief executive of Interpath, said: 'Over the past 23 years, Seraphine has grown to become a well-known and well-loved maternity brand, known for its blend of comfort and style. 'Unfortunately, the strong economic headwinds that have been impacting a number of the UK's high street and online retailers, including rising costs and brittle consumer confidence, have proved too challenging to overcome.' Interpath said it was 'exploring options for the business and its assets, including the Seraphine brand'. Seraphine was founded in 2002 by Cecile Reinaud and the brand shot to fame when the princess wore its maternity clothes, which sparked a surge in demand for the label. It floated on the stock market in 2021 with a £150 million valuation but quickly saw its market capitalisation tumble. The group was taken private two years later for £15.3 million by Mayfair Equity Partners. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
