Lingerie Outlet Store appoints KPMG administrators

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Lingerie Outlet Store KPMG administration
KPMG administrators have sold the majority of the business & assets to L F Retail Limited and Book Library Limited
// Lingerie Outlet Store brings in joint KPMG administrators Chris Pole & Mark Orton
// The group employs 26 staff & was founded in 2011
// Pole & Orton sold the majority of the business & assets to L F Retail Limited & Book Library Limited

Lingerie Outlet Store has fallen into administration, appointing joint administrators Chris Pole and Mark Orton from KPMG’s restructuring practice.

The Swindon-based retailer employs 26 staff, and was founded in 2011 as a specialist online retailer of lingerie, swimwear and active wear.

It trades via Ebay, Amazon and its own website across the UK and internationally, with a strong presence in the US and Germany.

Pole and Orton have sold the majority of the business and assets to L F Retail Limited and Book Library Limited following their appointment.

All employees have transferred to the purchasers, who will continue to trade the business from its base in Swindon.

“The Lingerie Outlet Store was a British online retail success story, achieving consistent growth between 2011 and 2018, and winning the ‘Specialist etailer of the Year’ award in 2017,” KPMG director Tim Bateson said.

“However, the company experienced a number of challenges in 2019 which put significant pressure on the cash flow of the business and its ability to replenish stock and maintain sales.”

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