Angry suppliers to footwear chain Faith have appointed law firm Buss Murton to demand stock back from Mazars, the administrator of the retailer.
Seven furious suppliers have banded together in an effort to claw back some £10m they claim is owed to them by Faith.
According to The Mail on Sunday, last week Barclays, investment fund Agilo and Faith’s management sold the chain’s debt to a restructuring firm understood to be Hilco. Soon afterwards Faith was put into administration.
Buss Murton has issued an order to return either the stock or its full value. It says it can prove the stock did not belong to Faith and should be returned.
Sources said that Debenhams may be interested in buying the Faith brand.
No comments yet