After filing for bankruptcy in May 2021, British designer Amanda Wakeley’s namesake fashion label is expected to be liquidated.
Last year, Smith & Williamson appointed joint administrators after the pandemic affected the brand hard, particularly its Mayfair store and concessions, which were forced to close due to numerous lockdowns.
Trading has continued since then through the company’s internet store and premium teleshopping channels.
“[Amanda Wakeley] needed further working capital investment to progress in its intended strategic trajectory,” administrators Smith & Williamson stated in a statement viewed by BusinessLive. Unfortunately, such funding was not available.”
Smith & Williamson has been contacted for more comments by FashionUnited.
End of an era
Princess Diana and British Prime Minister Theresa May were among the first customers of Amanda Wakeley’s Chelsea boutique, which debuted in 1990.
The company specialized in dresses, bridal, and special occasion attire, all of which were hit hard by the pandemic when major social events like weddings and the Royal Ascot were canceled.
“Despite a thorough marketing process, drawing significant interest, and a big effort by Amanda Wakeley and the company’s workers, it was not possible to find a buyer for the business,” joint administrator Colin Hardman stated when it folded last year.
“During the pre-administration phase, the company’s personnel worked relentlessly with me, and Smith & Williamson, to maximize sales and reduce the impact of insolvency on the company’s creditors,” Founder and Creative Director Amanda Wakeley remarked at the time. Thank you to this core crew and everyone who has worked at Wakeley over the years. I am particularly happy for the support and experience of our main equity investor, who has been a valuable partner since 2012.” “Thank you for your loyalty, many of whom have become our friends.” It’s an honor to design for you, and I’m moved by the many words of support for my family and business during this difficult time.”