Drapers understands affected workers had been knowledgeable in a bunch assembly on Wednesday (26 February) and a few staff didn’t obtain their February wages earlier than being dismissed.
The job cuts comply with a slew of monetary difficulties for the Manchester-based retailer. Managing Director Ben Armstrong, who joined in December 2023, has additionally since left the enterprise.
Eastenders‘ Jacqueline Jossa and former Geordie Shore star Charlotte Crosby have spoken on social media out about overdue “five-figure sum” funds from the retailer after collaborative collections.
Earlier this month, In The Fashion filed a discover of intent to nominate directors, lower than two years after the enterprise was offered to personal fairness agency Baaj Capital, which is owned by Jas Singh.
Restructuring agency FTS Restoration has been lined up as administrator to the enterprise and it’s anticipated to strike a pre-pack administration deal for Baaj Capital.
As soon as valued at greater than £100m, Baaj Capital acquired In The Fashion for £1.2m in March 2023. It had floated on London’s junior Various Funding Market (AIM) in 2019.
Adam Frisby, who based In The Fashion from his bed room in 2013 utilizing a £1,000 redundancy fee, left the board in March 2024 earlier than exiting the enterprise utterly in September.
Drapers has contacted In The Fashion for remark.
