Envy boss John Kinnaird has said he may be forced to put the fashion chain into pre-pack administration if landlords are not willing to help the struggling retailer by renegotiating rents.

Kinnaird, who bought Envy for£1 from Alexon in February, has struggled to turn the business around against increasingly tough trading conditions. It is understood some suppliers, nervous about the new management, have also stopped supplying some products to the retailer in recent months.

Kinnaird insists that the chain should survive the Christmas period and that a decision on the future of the chain will be made in the new year.
“The problem with Envy is that we inherited a batch of loss-making stores,” said Kinnaird. He added that having made successful rent negotiations for Faith, the shoe chain he bought out of administration in September, he has asked landlords for similar deals for Envy.

Discussions are ongoing but Kinnaird said while progress has been made landlords have so far “not been receptive” as they had been with Faith.
He said that one of his options if property deals cannot be done would be to place Envy’s parent company, Style Menswear, into administration to rid it of the loss-making shops hindering the business.

Kinnaird assured that the troubles at Envy would have no direct impact on Faith. Despite tough trading in the footwear sector he said he had “been pleased” so far with Faith’s performance and said five more stores will open in the new year.

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