Rowlands Clothing goes into administration

Rowlands Clothing has gone into administration just two years after it was saved from closure

by a private equity firm. Insolvency firm KCBS is already working to find out a convenient financial solution for the struggling British retailer.

In February 2012 the company was bought by Rosemex Trading, a subsidiary of London-based New World Private Equity, days after it went into administration. Back then, Stewart Cantley, chairman and chief executive of Rowlands, said that the retailer had shed its debts.

Rosemex´s rescue came in along with a 2 million pounds cash injection which was said to be invested in developing its own brand for the 55-plus market, as published 'Gazette & Herald'.

"We are very much appealing to the market of women who are over 55, as we don't feel there is enough out there for them. We have been through difficult times and times are still uncertain, but we think we can grow in this market," Cantley stated at the time.

KCBS confirmed they have been appointed as administrators for Rowlands but said no-one was available for comment at the moment. Additionally, the retailer has already taken down its website.