The owner of fashion labels Jacques Vert, Dash and Windsmoor has become the latest fashion retailer to face a potential decline into administration, jeopardising over 1000 jobs.
According to Sky News Style Group Brands is scrambling to secure new investors with industry insiders stating there was a “very real risk” it could fall into administration.
The source added that an outcome was unlikely to be reached until next week but all options were still open, including a potential sale of the company.
Two months ago Style Group Brands employed KPMG to explore a possible sale or restructure of the company as it struggled amid the adverse landscape of the fashion industry.
The brand trades from 1850 outlets across the UK, Europe and Canada, and has names itself the UK’s largest womenswear concession retailer.
It employs 1100 people across its estate and has a presence in major department stores like John Lewis and House of Fraser.