// Antler slashes 164 jobs after crashing into administration
// The luggage retailer appointed administrators from corporate finance firm KPMG.
// Antler operates from 18 stores and one concession, with a total of 199 staff
Antler has cut 164 jobs after filing for administration.
The luggage retailer, which operates 18 stores and one concession, said it has appointed administrators from corporate finance firm KPMG.
Administrators said Antler had to make the majority of its 199-strong workforce redundant after it was “profoundly impacted” by the coronavirus pandemic.
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The suitcase brand was bought by fashion tycoon Michael Lewis in February from private equity firm Endless.
KPMG said sales were solid prior to the pandemic but were hit hard by the closure of stores from lockdown as well as travel restrictions.
Antler sells products through its website, Amazon and wholesale to large chains across the UK, including John Lewis and Selfridges.
The administration comes after a raft of other British retailers have been forced into insolvency since the Covid-19 outbreak.
These include Laura Ashley, Cath Kidston, Debenhams, Oasis & Warehouse, Animal, Lombok and BrightHouse.
“Like so many companies across the retail and travel sectors, Antler has been profoundly impacted by the Covid-19 pandemic,” KPMG partner and joint administrator Will Wright said.
“Although the business was trading well prior to the virus outbreak, restrictions imposed at the start of the lockdown period prompted the closure of Antler’s retail and wholesale outlets, while the impact on international travel has also significantly affected sales.
“With uncertainty over the lifting of travel restrictions placing further financial strain on the business, the directors concluded that they had no option but to appoint administrators.
“We will continue to trade the business via its online channels while we assess options for this iconic brand and would invite any interested parties to make contact with us at the earliest opportunity.”
with PA Wires