Lingerie chain La Senza to go into administration

HIGH street lingerie chain La Senza plans to enter administration, the firm has announced.

Administrators could be appointed within the next ten days, in accordance with the Insolvency Act, a spokeswoman said.

She said: “Due to trading conditions in La Senza’s high street locations and the overall macro environment which are having an adverse effect on the company, the board of directors of La Senza has filed a notice of intention to appoint administrators.”

The business will continue to trade as normal in the meantime and there have been no unplanned redundancies or store closures.

The spokeswoman added: “For the avoidance of doubt, the company is not currently in administration, and no administrator has been appointed. The company continues to work with KPMG to explore all options to safeguard the future of the company and its employees. Further announcements will be made in due course.”

The firm was sold to private equity group Lion Capital five years ago by Dragons’ Den entrepreneur Theo Paphitis.

He told BBC Radio 5 live: “It’s sad because it’s a company that I used to consider was my baby back in the early 2000s and it’s sad to see it go off the high street. But it’s a sign of the times I suppose.”

Accountants KPMG will continue to work with the company, which has 146 stores and 18 concessions in the UK, in a bid to safeguard its future and employees. The retail sector has seen a number of high-profile chains suffer at the hands of a consumer spending squeeze in the UK.

Fashion specialist Jane Norman, wine merchant Oddbins and department store TJ Hughes have all gone into administration.