British label Amanda Wakeley set for liquidation

The eponymous fashion brand of British designer Amanda Wakeley is reportedly set to be liquidated after falling into administration in May 2021.

Joint administrators from Smith & Williamson were appointed last year as the brand’s trading was hit hard by the pandemic, in particular its Mayfair store and concessions which were forced to shut in line with various lockdowns.

Since then, trading continued through its online store and premium teleshopping channels.

But a statement by administrators Smith & Williamson, seen by BusinessLive, said: “[Amanda Wakeley] needed additional working capital investment to proceed in its intended strategic direction. Regrettably, that funding was not forthcoming.”

FashionUnited has reached out to Smith & Williamson for further comment.

End of an era

Amanda Wakeley opened its first store in Chelsea in 1990 and counted Princess Diana and former prime minister Theresa May among its fans.

The company specialised in dresses, bridal and occasion wear - all categories that suffered during the pandemic when large social events like weddings and Royal Ascot were cancelled.

When it collapsed last year, joint administrator Colin Hardman said: “Despite an extensive marketing process, attracting significant interest, and a huge effort from Amanda Wakeley and the company’s staff, it was not possible to find a buyer for the business.”

Founder and creative director Amanda Wakeley said at the time: “During the pre-administration phase, the company’s staff worked tirelessly with me, and Smith & Williamson, to maximise sales and mitigate the impact of insolvency on the company’s creditors. To this core team and those who have worked at Wakeley over the years, thank you.

“I am also very grateful for the support and expertise of our leading equity investor who has been a valuable partner since 2012.

“To our customers, many of whom have become our friends, thank you for your loyalty. It is an honour to design for you and I am deeply touched by the many messages of support concerning my family and the business through the crisis.”