Suppliers to the now defunct Principles fashion chain have joined forces to launch a website selling unsold stock following Principles’ administration. launched last week promising to fill the “gaping hole in grown-up fashion left by the recent closure of one of the UK’s favourite high street stores”. The website is a collaboration between designers and manufacturers.

In a statement said the “fast reactive” label offers “pieces characterised by exactly the same high quality fabric, finishing and fit that shoppers ‘in principle’ may recall from their much missed favourite store”.

The website features fashion for women in their 30s at an average price of between £25 and £30 and is updated with stock every two weeks.

It is unclear which suppliers are behind the new site, but it is understood that a key player is Hong Kong based.

Last month, Retail Week reported the future of about £5m of unsold Principles stock was uncertain. Stock on the water did not form part of the deal brokered by administrator Deloitte with Debenhams, which acquired stock in warehouses at the time of the administration.

No reply was available from as Retail Week went to press.