Blue Inc collapses into administration

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Blue Inc collapse

Blue Inc has fallen into administration after it failed to find a new owner to rescue the business, less than two years after it launched a CVA.

According to The Sunday Times, corporate recovery firm Begbies Traynor placed the menswear retailer into administration last week after it was hired in November to advise on its future.

Begbies Traynor is now reportedly in talks with two parties interested in taking over some of Blue Inc’s 31 stores, as well as one potential buyer of the brand.

The retailer’s collapse comes after it launched a CVA last year and then recorded losses of £15.6 million in the 18 months to July 2, 2017.

Padma Textiles and logistics company Uniserve also pulled together £2.6 million in funding to save the retailer.

As part of the funding deal, the bosses of Padma Textiles, Miraj Khan and Yechezkel Yechiel, became co-chief executives of Blue Inc.

The fashion retailer was once tipped for a £60 million float in 2014, when it was chaired by former Marks & Spencer boss Lord Stuart Rose.

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1 COMMENT

  1. on Wednesday 1May at 4:00pm can open Blu Inc in Pavilion mall Uxbridge because they got good clothes one I like about blu inc store is mens Blu Inc sports three quarter length trousers because is look cool when other lads wear them also I hoping to buy them soon. what colour of Blu Inc mens Blu Inc sports three quarter length trousers, everymen should have two pairs of blu inc sports 3/4 trousers what colour you did sell I know of is tan. my favourite colour is blue. I like to see 6 pairs Super Luxurious Mens Long, Knee High Cashmere blend Wool Winter Socks (070-L-Cash-D-Asst) because lot of good reviews and also men pantherella knee socks as gift such as perfume aftershave and spray

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