Boux Avenue has reportedly appointed advisers from Deloitte to discuss a potential insolvency process resulting in store closures.
The struggling lingerie retailer is part of the Theo Paphitis Retail Group, owned by Dragon’s Den star Theo Paphitis, and has 30 stores across the country. Its sister brands include Ryman and Robert Dyas.
Following a trading update in January, Paphitis said Boux Avenue was paying “above-average” rents while other retailers have been able to “completely realign their rental cost base, often through CVAs”.
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