Fashion brand Orla Kiely is seeking buyers after entering administration - Licensing.biz

Fashion brand Orla Kiely is seeking buyers after entering administration

Chris Newell, a partner at business advisors Quantuma, said his firm wanted to speak with anyone interested in buying part or all of Orla Kiely, whose parent company, Kiely Rowan, has gone into administration.
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The fashion brand Orla Kiely is seeking a buyer for the business after having appointed administrators last week when it shut down its website and closed its shops.

Chris Newell, a partner at business advisors Quantuma, said his firm wanted to speak with anyone interested in buying part or all of Orla Kiely, whose parent company, Kiely Rowan, has gone into administration.

Newell said that there was a significant number of creditors owed in total up to £10 million by Kiely Rowan, which announced liquidation proceedings on Tuesday last week.

The fashion brand could potentially be rescued should Newell find a buyer.

“Nothing is off the table,” he said. “I would be interested in speaking to anyone that is interested in buying any assets of the company.”

An investigation into Kiely Rowan and two of its associated companies, Kilyon Stem LLP and Killyon Stem Home LLP, of which Orla Kiely and her husband Dermott Rowan are the only directors, is being opened by Quantuma. This is standard practice in any administration process, reports the Telegraph.

A number of the company’s creditors are said to be left out of pocket as a result of the brand’s collapse, including banks, trade creditors such as retailers and former employees.

“Our job is to engage with all stakeholders and get the best out of a bad situation,” said Newell. “My role is to realise the assets and maximise the returns to creditors as well as investigate the affairs of the company.” 

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