UK low cost style web site in administration with 75 jobs in danger
BrandAlley, a members-only shopping website, was famed for slashing up to 80 per cent off designer items, from clothes to beauty products and furniture to homeware
A discount online fashion website has entered administration (file)(Image: Olga Pankova via Getty Images)
A well-known online retailer offering cut-price fashion and homeware items from major brands has tumbled into administration following nearly two decades of trading.
BrandAlley, a members-only shopping platform, is renowned for slashing up to 80% off designer products, spanning clothing to beauty items and furniture to homeware. Launched in 2008, it built a substantial following through its dramatic price reductions on premium goods during flash sales.
The company has now revealed it has entered administration, with 75 staff members facing redundancy, according to The Sun.
The firm has assured customers they can continue shopping on the website as usual, with all current orders plus returns and refunds being handled by the new company.
Shoppers typically spend over £100 per transaction as the platform hosts dozens of flash sales daily across more than 1,000 brand partnerships.
Kiri Holland and Danny Dartnall from accountancy firm BDO have been named joint administrators of BrandAlley UK Limited as of Friday (May 29).
The business allegedly encountered financial troubles and has been sold via a pre-pack administration arrangement to a new entity operating as BrandAlley International Limited, reports the Mirror.
From its 163 workforce, 83 have been retained to support the sale and 60 will stay temporarily to help with the transition. However, 15 faced redundancy.
The firm had allegedly considered other alternatives, including a complete or partial sale, after engaging the advisory and restructuring company Interpath to advise on its future.
Initially, it contemplated raising debts before considering the possibility of locating a buyer.
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