The luxury fashion business of designer Amanda Wakeley, which was made famous for dressing the likes of Princess Diana and Meghan Markle, is set to be liquidated after collapsing into administration last year.
AW Retail was known for its dresses, bridal and occasion wear, had until recently traded from its Mayfair flagship store, as well as having an established eStore and concessions at prestige department stores.
Clare Lloyd and Colin Hardman of Smith & Williamson LLP were appointed as joint administrators in May 2021.
READ MORE: How British fashion designer Amanda Wakeley's business collapsed into administration
At the time, Smith & Williamson said the company’s trading performance had suffered due to the current pandemic conditions, in particular at its Mayfair store and its concessions, both of which were forced to close due to lockdown measures.
Trading had continued through its eStore and premium teleshopping channels.
However, the firm said: "It needed additional working capital investment to proceed in its intended strategic direction. Regrettably, that funding was not forthcoming.
"After instructing Smith & Williamson LLP to undertake a review of options, the company sought to find a purchaser for the business."
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In an updated to creditors in December 2021, Smith & Williamson LLP said it "had not been possible to secure a going concern sale of the business, as despite a thorough marketing process, no viable offers were ultimately forthcoming".
When the administrators were appointed, 12 non-disclosure agreements were entered into regarding the purchase of stock while nine members of staff were made redundant.
The events which led up to the business collapsing into administration were revealed by BusinessLive in July last year.
The brand, which was launched in 1990 and was backed by AGC Equity Partners in 2012, had planned to launch in 2021/2022 into the USA but the move was put on hold due to the Covid-19 pandemic.
A notice has now been filed with Companies House to move from administration to creditors voluntary liquidation.
Amanda Wakeley grew up in Cheshire and was educated at Cheltenham Ladies College.