PwC is closing down the UK arm of La Senza after failing to find a suitable buyer for the business. La Senza went into administration for the second time two months ago due to ‘difficult trading conditions’.
All remaining 55 stores across the UK are set to close, resulting in 752 jobs lost.
Joint administrator, Robert Moran, commented, “The challenging conditions in the UK high street are well documented. Like many other retailers, La Senza has been hit hard by the difficult economic environment.”
The lingerie retailer previously entered administration in 2012, leading to over 100 store closures and more than 1,300 redundancies. However, 1,100 jobs were saved in a pre-pack deal with 60 stores sold to the retail franchise, Alshaya.
Although La Senza is now closing in the UK, there continues to be stores throughout Canada and in 30 other countries worldwide.
We are not involved in the administration and questions should be directed to PwC who are handling the administration.
If you are an employee of the business, please listen to the video below as it will tell you your rights as an employee of an insolvent business. There is a link at the end of the video to the Government website which expands further on what you need to know.