Fenchurch in administration

Fashionable streetwear brand Fenchurch International went into administration last week,

blaming the rising cost of cotton and higher labour costs.

RSM Tenon has been appointed as the administrator. The administration puts 40 head office jobs at threat.

Fenchurch turned over £11m in the 12 months to 31 April 2010 and achieved a gross profit of 35 per cent, according to an advert RSM Tenon placed offering the company up for sale. It predicts 30 per cent sales growth in 2011 and 2012.