Clothing retailer Nicole Farhi rescued

FASHION chain Nicole Farhi was plucked out of administration by Maxine Hargreaves-Adams, the daughter of Matalan founder John Hargreaves.

Picture: Getty

Accountancy firm Zolfo Cooper, which was appointed as the retailer’s administrator on 3 July, said the disposal consisted of six stores, nine concessions and the wholesale and e-commerce businesses – but refused to disclose the financial details of the deal.

Hargreaves-Adams bought the Fenn Wright Mason chain out of administration from Zolfo Cooper last year and earlier this year invested in the Damsel in a Dress brand.

She described Nicole Farhi as “an iconic and much-loved British brand”.

Peter Saville, a partner at Zolfo Cooper, added: “We are extremely pleased to have secured the sale of Nicole Farhi to Maxine Hargreaves-Adams, preserving a well-known retail brand.

“We wish Maxine and the company’s employees all the best for what we believe will be a successful future for the business.”