News

Hardy Amies goes into administration

01 October 2008 08:50:00

Savile Row couturier Hardy Amies has confirmed it is to go into administration.

The Queen’s favourite tailor has run into financial difficulties and had to suspend trading in its shares on 26 September pending clarification of its financial position.

It has since been approached by various parties interested in helping solve its funding difficulties but has been unable to finalise an offer that would secure the future of the company.

Discussions with various parties interested in the company are still in progress, “although it is not clear at this stage what the outcome of these discussions will be,” the company said.

The company had experienced a funding shortfall after its major shareholder, Arev Brands Limited, was unable to satisfy a request for further financial support.

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