// Little Black Dress acquired by Fashion Ventures Ltd in a pre-pack administration deal
// The six-person team that runs the retailer will keep their jobs as part of the deal
Little Black Dress has reportedly undergone a change of ownership after it was acquired by an investment firm via a pre-pack administration deal.
According to Drapers, the online fashion retailer was acquired by private investment firm Fashion Ventures Limited last night.
The six-person team that runs the retailer will keep their jobs as part of the deal.
Little Black Dress’ website has been temporarily closed since April 8 as part of safety measures due to the coronavirus pandemic.
However, customers were still able to visit the site in order to browse through the items.
Little Black Dress was first launched in 2014 and has achieved sales of over £13 million since then.
The retailer reportedly stumbled upon financial troubles in March when an additional round of fundraising for the business fell through in the wake of the lockdown.
“The new owners expect to have the site operational again by mid-summer to coincide with the reopening of the hospitality industry,” Little Black Dress chief executive Mark Evans told Drapers.
“Future details on the relaunch will follow.”
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