Businesswoman Maxine Hargreaves-Adams has acquired private equity-backed fashion retailer Nicole Farhi shortly after it collapsed into administration.
Private equity firm Kelso Place Asset Management bought a controlling stake in Nicole Farhi in January 2012 with plans to inject £15m into the company over five years. It was the majority owner of the company when it went into administration earlier this month.
The acquisition of Nicole Farhi came a year after Hargreaves-Adams bought womenswear brand Fenn Wright Manson from administration.
She said Nicole Farhi was an “iconic and much loved British brand.”
Partner as administrator Zolfo Cooper Peter Saville said, “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.”
Kelso also owned Smythson, the luxury leather goods and bespoke stationery retailer, which it sold in December 2009. In August 2012 the firm sold luxury handbag and accessories brand Anya Hindmarch for a return of four times.
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