Internacionale drafts in Select founder as MD
- Published: 17 July 2008 13:40
- Last Updated: 17 July 2008 13:42
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Value fashion retailer Internaçionale has appointed Select founder Nigel Fisher as managing director.
The move follows the acquisition of Internaçionale in June by Indian textile and clothing manufacturer S Kumars Nationwide. Internaçionale's parent company Ossian Retail went into administration in May.
Internaçionale and Select have both hit the headlines this year as the overcrowded value fashion sector has suffered from a downturn in sales in the wake of the credit crunch.
Fisher stepped down from Select, which he founded 25 years ago, a week before it went into administration in March.
Turkish supplier Cafer Mahiroglu, who put together a £13 million rescue package for Select in February, bought back half its 250 stores when it hit the buffers.
Former New Look managing director John Hannah, who was part of the rescue buy-out team, became acting managing director of Select. He has been charged with generating sales of £50 million by next February.
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