RALPH & RUSSO COLLAPSES INTO ADMINISTRATION
Posted on by Cameron Tewson
A statement released by Ralph & Russo confirmed it has appointed administrators to restructure the business. The brand has blamed the economic effects caused by coronavirus for the downturn of the business. Ralph & Russo will continue to operate during the administration period.
Paul Appleton of Begbies Traynor Group and Andrew Andronikou of Quantuma Advisory have been appointed as joint administrators. They will “investigate all possible options to secure the future” of the brand.
Tamara Ralph, Ralph & Russo creative director, said: “In the last 12 months we have experienced unprecedented trading conditions throughout the pandemic, which has put a tremendous strain on our business and retailers across the world. In spite of these difficulties, we have continued to serve our customers during this time.
“I have been assured that this process will help refinance the business and allow us all to do what we love best – creating for our women across the world. I would also like to reaffirm my commitment to the brand and to taking it to new heights in the future. My clients, staff and I have an unbreakable bond and we will come through this together.”
Earlier this month, Sky News reported that the brand, based in London, had informed some staff that it could not pay them after sales had fallen during the coronavirus pandemic.
