La Senza Slips Into Administration Again
The UK stores of lingerie chain La Senza have been placed in administration for the second time in as many years, leaving 750 jobs at risk.
The business, which was bought by the UK arm of Kuwait-based Alshaya and renamed Marnixheath following its collapse in 2012, is still trading and will continue to pay staff while the administrator seeks a buyer for the 55 stores.
PricewaterhouseCoopers said Marnixheath also operates three Pinkberry frozen yoghurt outlets in the South East.
However, visitors to La Senza's UK website were unable to buy goods when news of the collapse broke.
A message posted on its home page read: "Oops! You caught us with our panties down. We're performing some essential website maintenance. Please check back soon".
Robert Moran, who has been appointed joint administrator of Marnixheath, said: "Like many other retailers, La Senza has been hit hard by the difficult economic environment and a slowdown in consumer spending.
"There are no immediate plans to close any stores and the administrators shall continue to assess the trading strategy over the coming days and weeks."
The company made the name of former Dragons' Den star Theo Paphitis, who sold his stake in 2006.
The business remained profitable until 2010 but when La Senza went into administration in 2012, amid diving consumer spending, there were 1,300 redundancies and more than 100 outlets closed.
At the time Mr Paphitis ruled out making a rescue bid.
The North American operations of La Senza and others worldwide are unaffected by the latest collapse of the UK stores business.