Latest news with #MayfairEquityPartners
Yahoo
01-08-2025
- Business
- Yahoo
Next rescues maternity brand favoured by Princess of Wales
Next has rescued a maternity brand favoured by the Princess of Wales weeks after the ailing firm crashed into administration. The British retail giant has paid £600,000 for the Seraphine brand and intellectual property. The maternity wear company's founder Cécile Reinaud will return as an adviser, having stepped down from the business in 2021. Next said the deal signalled 'a new chapter for the heritage British brand'. The company's clothes were worn by the Princess of Wales in 2013 for the first official family portrait following the birth of Prince George. Ms Reinaud said: 'I'm very happy to see Seraphine find a new home with Next, a British brand with so much heritage and customer trust that resonates with millions of women and families. 'This new ownership feels like a good fit and I believe Seraphine will thrive again.' Just weeks ago, the company was forced to make the majority of its 95 employees redundant after collapsing into administration after failing to find a buyer for the whole business. Ms Reinaud had been critical of the stewardship of the business by private equity firm Mayfair Equity Partners, which she sold the business to. Writing on LinkedIn earlier this year, after Seraphine launched a new logo, she said: 'My original vision was to create clothes you'd want to wear even if you weren't pregnant. That guiding principle seems to have vanished now. 'Seraphine was once a proud example of British fashion entrepreneurship, recipient of two Queen's Awards: now, it seems to have lost its recognisable identity.' Mayfair defended the rebrand at the time as 'a hugely exciting moment for Seraphine, with the unveiling of its enhanced website and refreshed brand identity that incorporated consumer desire for a modernised look and feel.' Seraphine listed on the London Stock Exchange in 2021 with a value of £150m. However, it suffered a string of profit warnings and Mayfair Equity took it off the stock market in 2023. At that point, it was worth £15.3m. The company made an operating loss of £13m on revenues of £42m during its latest financial year. It then called in administrators at Interpath on July 7. Will Wright, the company's joint administrator, said: 'Unfortunately, the strong economic headwinds that have been impacting a number of the UK's high street and online retailers, including rising costs and brittle consumer confidence, have proved too challenging to overcome.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
08-07-2025
- Business
- Yahoo
Maternity label worn by Kate collapses into administration
The maternity fashion firm, whose clothes were worn by the Princess of Wales during her pregnancies, has collapsed into administration. Seraphine appointed administrators from Interpath on Monday in a move that has seen the majority of its 95 staff made redundant. The retailer – which has a flagship store in London's Kensington High Street and also sells online – struggled amid rising costs and a difficult backdrop for consumer spending. As its financial woes deepened, it sought to find a buyer but was unable to secure a sale. Will Wright, UK chief executive of Interpath, said: 'Over the past 23 years, Seraphine has grown to become a well-known and well-loved maternity brand, known for its blend of comfort and style. 'Unfortunately, the strong economic headwinds that have been impacting a number of the UK's high street and online retailers, including rising costs and brittle consumer confidence, have proved too challenging to overcome.' Interpath said it was 'exploring options for the business and its assets, including the Seraphine brand'. Seraphine was founded in 2002 by Cecile Reinaud and the brand shot to fame when the princess wore its maternity clothes, which sparked a surge in demand for the label. It floated on the stock market in 2021 with a £150 million valuation but quickly saw its market capitalisation tumble. The group was taken private two years later for £15.3 million by Mayfair Equity Partners. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Independent
08-07-2025
- Business
- The Independent
Maternity label worn by Kate collapses into administration
The maternity fashion firm, whose clothes were worn by the Princess of Wales during her pregnancies, has collapsed into administration. Seraphine appointed administrators from Interpath on Monday in a move that has seen the majority of its 95 staff made redundant. The retailer – which has a flagship store in London's Kensington High Street and also sells online – struggled amid rising costs and a difficult backdrop for consumer spending. As its financial woes deepened, it sought to find a buyer but was unable to secure a sale. Will Wright, UK chief executive of Interpath, said: 'Over the past 23 years, Seraphine has grown to become a well-known and well-loved maternity brand, known for its blend of comfort and style. 'Unfortunately, the strong economic headwinds that have been impacting a number of the UK's high street and online retailers, including rising costs and brittle consumer confidence, have proved too challenging to overcome.' Interpath said it was 'exploring options for the business and its assets, including the Seraphine brand'. Seraphine was founded in 2002 by Cecile Reinaud and the brand shot to fame when the princess wore its maternity clothes, which sparked a surge in demand for the label. It floated on the stock market in 2021 with a £150 million valuation but quickly saw its market capitalisation tumble. The group was taken private two years later for £15.3 million by Mayfair Equity Partners.
Telegraph
07-07-2025
- Business
- Telegraph
Maternity fashion brand worn by Princess of Wales falls into administration
A maternity fashion brand previously worn by the Princess of Wales is on the brink of collapse two years after it quit the London stock market. Seraphine has posted a notice to appoint administrators, according to court filings on Monday. The documents reveal that financial advisory business Interpath has been brought in to handle the process. It comes after weeks of attempts to find a buyer for the business. While there was some interest following a process that began in June, a buyer for the whole business could not be found. Seraphine is now expected to enter administration shortly. Founded in 2002 in London by French entrepreneur Cécile Reinaud, the maternity brand's clothes were worn by the Princess of Wales in 2013 for the first official family portrait following the birth of Prince George. Seraphine's clothing has also been worn by celebrities including Kate Winslet, Anne Hathaway, Sophie Ellis-Bextor and Myleen Klass. The company floated on the London Stock Exchange in the summer of 2021 at a value of £150m. However, it suffered a string of profit warnings and Seraphine's majority shareholder Mayfair Equity Partners, a private equity firm, took it off the stock market in 2023. At the time, Mayfair agreed to inject fresh capital as part of a takeover that valued the company at just £15.3m. Seraphine has continued to struggle since going private. It made an operating loss of £13m on revenues of £42m during its latest financial year. 'Why abandon our unique British heritage?' Ms Reinaud, who left Seraphine in 2021, has publicly criticised the stewardship of Mayfair. She wrote on LinkedIn earlier this year: 'My original vision was to create clothes you'd want to wear even if you weren't pregnant. That guiding principle seems to have vanished now. 'Just yesterday, the brand unveiled a new logo that makes it resemble a Scandinavian label. Why abandon our unique British heritage and signature regal purple? 'Seraphine was once a proud example of British fashion entrepreneurship, recipient of two Queen's Awards: now, it seems to have lost its recognisable identity.' Mayfair defended the rebrand at the time as 'a hugely exciting moment for Seraphine, with the unveiling of its enhanced website and refreshed brand identity that incorporated consumer desire for a modernised look and feel.' The company's expected collapse marks the latest sign of mounting pressure on the high street. A string of fashion brands including Quiz Clothing and Select Fashion have entered administration in recent months. The number of companies in critical financial distress rocketed towards the end of last year, according to corporate restructuring firm Begbies 'Red Flag Alert', rising 50pc between the end of September and December. Retail was identified as one of the sectors facing acute challenges. High street businesses have been battling against a downturn in consumer confidence. Figures last month suggested that nervous families had frozen spending, with the British Retail Consortium finding that retail sales were up just 1pc in the year to May. Like other businesses, shops also face higher costs as a result of the changes to employers' National Insurance contributions and minimum wage, which took effect in April.
Bloomberg
04-06-2025
- Business
- Bloomberg
Mayfair Said to Mull Options for Property Classified Site AtHome
Markets Deals By Save Mayfair Equity Partners is considering options for Luxembourg-based property classified site atHome Group after receiving interest from potential investors, according to people familiar with the matter. The London-based private equity firm is close to hiring a bank to help with the review, said the people, who asked not to be identified as the information isn't public. A deal could value the business at about a few hundred million euros, the people said.
