Faith, Dolcis, Envy. All have collapsed into administration.

Faith, Dolcis, Envy. All have collapsed into administration..

One man who has been involved with all of these businesses at one time or another is Scottish businessman John Kinnaird. And he is now in the firing line from Faith suppliers who are angry that once again, their businesses have been placed under threat, by a possible Faith administration.

Many suppliers were yesterday camped outside Faith’s head office demanding answers and threatening to take stock out of its concessions in Debenhams.

So who is Kinnaird and why is his name now so synonymous with failed retail businesses?

Kinnaird built his career working for Sir Tom Hunter’s Sports Division from 1990 and made a hefty sum when it was sold to JJB Sports in 1998. His first deal with his money was to lead a buyout with management of Warner Bros Studio Stores, which went fell into administration in 2004.

In 2006 he bought shoe chain Dolcis from Alexon in 2006, however it went into administration after its private equity backer pulled out.

Seemingly undeterred Kinnaird went on to buy another struggling business from Alexon - this time fashion chain Envy for £1.

This was put into pre-pack in December 2008 and then sold earlier this year before the new owners were forced quite quickly to put it into administration.  Envy is now trading from 10 stores, and is seeking a buyer.

Now Faith, which Kinnaird bought in a pre-pack deal in 2008, is expected to hit the buffers despite a line-up of potential buyers including Sports Direct and JD Sports Fashion understood to be interested. The deal it seems has been further complicated by the substantial control of Debenhams in which Faith runs many of its concessions.

Faith was a great brand in its heyday and although standalone shoe businesses are difficult in the current climate there did seem to be a gap in the market for Faith.

People know Kinnaird’s track record but have time and time again agreed to work with him. Will this latest administration be the last time some suppliers agree to risk getting burnt and could this be the last hurrah for Kinnaird in retail?

The industry does not need entrepreneurs in the mix who make what some would see as a mockery of the administration process.

Trade is tough and running struggling businesses today is no mean feat, but when so many people’s livelihoods are on the line taking the risk in Kinnaird’s case has caused a great deal of grief and criticism.

In these cases businesses really need truly proven business brains to try and steer businesses back into the black. But if these people cannot secure the funding then it will be the likes of Kinnaird who snap up these businesses time and time again and the conclusion of these deals never seems to be a happy one.