Ellie Louise goes into administration

Women’s fashion retailer Ellie Louise has gone into administration.

Administrators from restructuring firm Zolfo Cooper said that the Leeds-based retailer had suffered ‘cash flow problems’ and its finances woes were ‘exacerbated’ by its 2010 purchase of the Trade Secret brand.

Currently the company, which operated shops under the Ellie Louise, Happit, and Trade Secret brands, has 97 stores throughout the UK and employs 439 staff, will continue to trade while the administrators search for a buyer.

Graham Wild, Partner at Zolfo Cooper said: "Unfortunately, as with many other fashion retailers exposed to declining consumer spend, challenging trading conditions have led to increased financial pressure on this well-known brand.

"We intend to trade the business in order to ensure that we identify the best possible outcomes regarding preservation of jobs, the value of the business and returns to creditors."