Deathwatch: La Senza

la_senza Knickers - or 'panties' if you're slightly weird - news now, and La Senza have fallen into administration for the second time in two years.

The semi-fancy lingerie line runs 55 franchise stores in the UK with 752 staff (employed across the chain, not just in one branch).

Administrators are saying they have no immediate plans to close any stores and that staff will remain paid and that. They have also appealed for any interested parties to step forward and buy the company.

La Senza UK previously went into administration in January 2012, closing more than 80 branches.

One of those administrators, Robert Moran of PwC, said:

"Like many other retailers, La Senza has been hit hard by the difficult economic environment and a slowdown in consumer spending."

It would have been a nice touch if he'd added "and the bottom has gone out of knickers" or something about someone making a boob, but it was not really the ideal time.

The UK and Ireland franchise was bought in 1998 by entrepreneur and Dragon's Den "Dragon" Theo Paphitis, who turned it around and sold his stake to Lion Capital for £100m.

When the chain originally went into administration, Mr Paphitis mourned the decline of a "very profitable company" and said "It's sad because it's a company that I used to consider was my baby back in the early 2000s and it's sad to see it go off the High Street".

"But it's a sign of the times, I suppose."

1 comment

  • Gr E.
    Well that's pants.

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