The Restory put into ‘proposed’ liquidation after co-founders exit

Luxury aftercare provider The Restory has been put into ‘proposed’ liquidation a week after co-founders Vanessa Jacobs, Emily Rea, and Thaís Cipolletta Ferreira Alves announced they were exiting the business.

In a post to LinkedIn, Jacobs said: “Today, I was informed that The Restory was put into 'proposed' liquidation and that all staff was terminated with immediate effect.

“My heart is broken, but my focus is on my (former) team, customers, partners and suppliers.”

The announcement came just days after the co-founders revealed they would be stepping down from the business.

A joint statement read: “Six years ago, dedication to customer excellence, a love of craftsmanship, and a passion for sustainability came together in a spare bedroom in North Kensington to pioneer a category and create the world's first aftercare platform.

“With the a-team that joined us, we devoted ourselves to building a trusted brand to whom the world's leading brands could entrust their most important relationships. One could argue that we were a wee bit too early, but today's market is crystal clear.

“We see an exciting future in the space, and the crucial role aftercare plays. Unfortunately, there have been recent changes that have led to us making the heart-wrenching decision to step away from the company in the last couple of weeks.”

Founded in 2017, The Restory is a luxury repair and aftercare provider for global fashion brands. Its services span cleaning, maintenance repairs and replacements, as well as bespoke alterations, including couture and tailoring.

The company has inked partnerships with luxury heavyweights like Harvey Nichols, Selfridges, and Farfetch.