SilkFred, an online fashion marketplace, has gone into administration. With 500 partner fashion brands like Apricot, Goddiva, Pretty Lavish, and Lily and Lionel, the company confirmed its collapse in a recent statement. Quantuma, a financial advisory firm, has been appointed to oversee the administration process.
The administration announcement stated that no new orders will be fulfilled, and efforts will be made to refund customers whose orders have not been shipped yet. However, refunds might not be guaranteed due to financial constraints. Customers waiting for orders are advised to contact their credit or debit card providers for potential refund assistance.
For customers who spent between £100 and £30,000 using a credit card, Section 75 protection may apply, while Chargeback could be an option for debit card payments. SilkFred expressed disappointment over its collapse, attributing it to the impact of the ongoing cost-of-living crisis and intense competition in the fast-fashion industry.
The company founders, including Emma Watkinson, Stephen Jackson, and Kate Jackson, expressed gratitude to customers, partner brands, and the team for their support. Despite the closure, SilkFred celebrated its role in empowering independent designers and providing fashionable choices to customers. The company acknowledged the significant contributions made by its loyal customer base in supporting small businesses and emerging designers.
SilkFred’s journey, which began in 2011, reflected a dedication to promoting independent brands and fostering growth within the fashion industry. The company’s closure marks the end of a chapter in its mission to offer unique and stylish clothing options to consumers.