La Senza enters administration for second time

La Senza, the lingerie retail chain, has collapsed for the second time in two years after its owners called in administrators from PwC.

Robert Moran, Mike Jervis and Stuart Maddison of PwC have been appointed as joint administrators of La Senza's parent company Marnixheath, which owns and operates 55 La Senza stores and three Pinkberry outlets in the UK and employs 752 people in England, Wales and Scotland.

Other fashion retailers are also struggling. Jane Norman went into administration last week.

"Like many other retailers La Senza has been hit hard by the difficult economic environment and a slowdown in consumer spending," Moran said. He said that there were no immediate plans to close any stores and that staff have been and will continue to be paid for their work.

"The administrators are continuing to trade the businesses as normal for the time being whilst discussions take place with interested parties in respect of a sale. We welcome any approaches to purchase all or part of the store portfolio." 

La Senza's US operations and others worldwide aren't affected by the collapse of La Senza's UK business.

The company first went into administration in January 2012 when KPMG administrators sold the business to Alshaya, a Middle East retail group, as part of a pre-packaged administration.

In 2006, Dragons’ Den star Theo Paphitis sold la Senza to equity firm Lion Capital for £100m.