Luggage label Antler collapses with 164 jobs lost –

Baggage model Antler has slashed 164 jobs after crashing into administration.

The retailer, which has 18 retailers and concessions, needed to make most of its 199 employees redundant after it was hammered by the pandemic, advisers at KPMG mentioned.

Antler had initially put most staff on the taxpayer-funded furlough scheme. 

The corporate was purchased in February from personal fairness firm Infinite by Michael Lewis, the style tycoon who additionally owns upmarket manufacturers Whistles and Hobbs. 

Gross sales had been strong earlier than the outbreak however collapsed as dozens of nations went into lockdown. 

Antler merchandise are bought via Amazon and its personal web site, in addition to on the likes of John Lewis and Selfridges. 

Mr Lewis is chairman of the Foschini Group, which owns a string of manufacturers within the UK. He’s engaged to Woman Kitty Spencer, Princess Diana’s niece. 

The administration comes after a flurry of names had been pressured into insolvency through the outbreak, together with Cath Kidston and Laura Ashley.

Will Wright, of KPMG, mentioned: “With uncertainty over the lifting of journey restrictions putting additional monetary pressure on the enterprise, the administrators concluded that that they had no choice however to nominate directors.

“We’ll proceed to commerce the enterprise through its on-line channels whereas we assess choices for this iconic model and would invite any events to make contact with us on the earliest alternative.”

Antler was based in 1914 and suffered pre-tax losses of £3.9m on gross sales of £32.5m in 2018.

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