Pre pack administration for Alexon Group?

19 September 2011

Alexon the womenswear retail group is so short of cash it does not have sufficient to stock up for Christmas! 

This is our intepretation from the company's carefully worded statement; The company is "operating with limited headroom against its existing facilities and accordingly there is a clear requirement for additional funding in the short term as it enters the seasonal peak in working capital requirements".  Net debt for the company currently stands at £12.9m.

Alexon has invited proposals to acquire one or more of the Group's brands. Currently the board is considering one offer and it is understood that it is at a "significant" discount to share value.

Brands at the group include:  Anne Harvey, Dash, Eastex, Kaliko, Minuet Petite and Lazy Lu They can be found in 990 stores around the world according to the corporate website.

Is pre-pack administration looming for Alexon Group?