|Fenn Wright Manson in Chiswick To Close|
Shop on Devonshire Road is victim of recession
Upmarket boutique Fenn Wright Manson is closing its store in Chiswick. A notice went up in the shop window in Devonshire Road today (Wednesday, March 14 th) advertising a Closing Down Sale.
The fashion chain, which has seventeen standalone stores and 62 department store concessions , has collapsed into administration as it becomes another casualty of the downturn in spending.
The Chiswick shop has six employees.
The retailer, which was founded in 1974, was acquired by private equity group Darwin in 2010 and employs some 350 staff.
Administrators from the insolvency specialists Zolfo Cooper have been appointed.
In recent months many fashion retailers have been exposed to the decline in consumer spending, leading to increased financial pressures.
It is understood that Fenn Wright Manson will continue to trade while the administrator Zolfo Cooper seeks a buyer. From today the Chiswick shop is advertising a 50% off sale.
March 14, 2012