Will Wright and Steve Absolom from KPMG’s Restructuring practice have been appointed joint administrators to Antler Holdings Limited and Antler.
Founded in 1914, Antler is one of the most popular and well-known luggage brands in the world. The company operates 18 retail stores and one concession outlet, in addition to selling via their website, Amazon and wholesale to several large retail chains across the UK. They also licence the sale of luggage in Australia and Asia through third party companies.
The business employed circa 199 members of staff, the majority of whom were placed on furlough via the Coronavirus Job Retention Scheme prior to the appointment of the joint administrators.
Regrettably, following their appointment, the joint administrators have made 164 redundancies, the majority of whom worked across the company’s retail estate.
Will Wright, partner at KPMG and joint administrator, said: “Like so many companies across the retail and travel sectors, Antler has been profoundly impacted by the Covid-19 pandemic. Although the business was trading well prior to the virus outbreak, restrictions imposed at the start of the lockdown period prompted the closure of Antler’s retail and wholesale outlets, while the impact on international travel has also significantly affected sales.
“With uncertainty over the lifting of travel restrictions placing further financial strain on the business, the directors concluded that they had no option but to appoint administrators.
“We will continue to trade the business via its online channels while we assess options for this iconic brand and would invite any interested parties to make contact with us at the earliest opportunity.”
Interested parties are advised to contact Gareth Shaw at KPMG on 07740 894721.
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