Business

Nicole Farhi sold to retail boss Maxine Hargreaves-Adams

  • 22 July 2013
  • From the section Business
Nicole Farhi
Nicole Farhi has six standalone stores

Struggling fashion and homeware chain Nicole Farhi has been bought by businesswoman Maxine Hargreaves-Adams.

The retailer, founded in 1982 by French Connection boss Stephen Marks and Nicole Farhi herself, went into administration earlier this month.

Last year Ms Hargreaves-Adams, daughter of Matalan's founder John Hargreaves, bought the Fenn Wright Manson womenswear chain out of administration.

She said the Farhi business was "an iconic and much-loved British brand".

The retailer has six standalone stores and also sells its clothing in department stores Harvey Nichols, House of Fraser and Selfridges across the UK.

Restructuring specialist Zolfo Cooper was appointed on 3 July to find a buyer for the business, which employed 75 staff across its retail network, and had another 44 staff employed at its headquarters in London.

Peter Saville, partner at Zolfo Cooper, said the acquisition would mean "preserving a well-known retail brand".

Ms Hargreaves-Adams also bought Fenn Wright Manson from Zolfo Cooper in March 2012.

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