// Khaadi rescued by Weaves Trading UK in pre-pack deal
// The South Asian clothing retailer closed 6 “underperforming” stores last week
Khaadi has been rescued in a pre-pack administration deal by Weaves Trading UK after closing six “underperforming” stores and making “some” redundancies last week.
The South Asian clothing retailer previously operated 10 stores across the UK in shopping centres such as Westfield Stratford, Westfield London, Brent Cross, Bull Ring Birmingham, Trafford Centre Manchester and Trinity Leeds, since being founded in 2013.
Following a sales agreement by administrators Keith Marshall and Gareth Harris of RSM, six Khaadi outlets will continue trading.
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The retailer employed under 100 staff just before it fell into administration last week and the sale has secured the majority of jobs.
A legal team from Weightmans have advised on the pre-pack administration sale of Khaadi, acting on behalf of RSM.
“Sadly failures on the high street remain common as the retail sector faces massive structural changes but we are glad that Khaadi has survived,” Weightmans partner James Moore said.
“This was a complex transaction that demanded expertise from across our specialist practice areas, safeguarding the majority of roles at Khaadi and leaving a more streamlined and sustainable business.”
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