Kinky Knickers Goes Into Administration

[R K]

http://www.bbc.co.uk/news/business-25781549

Headen and Quarmby, a British underwear maker championed by retail expert Mary Portas, has gone into administration with the loss of 33 jobs.

The 79-year-old factory, in Middleton, Greater Manchester, was championed by Ms Portas in the 2012 television programme, Mary's Bottom Line.

In it, she reopened the sewing room and launched her Kinky Knickers range.

The administrators said orders had fallen sharply and they were hoping to sell it as a going concern.

The company produces a variety of clothing for a number of High Street and online retailers, including House of Fraser and Asos.

The television show was an experiment to help revive the UK's textile industry and saw eight unemployed local people hired to set up a new production line in the former industrial town.

Viable Mary Portas told the BBC she was "heartbroken" and "completely blown away" by the news.

Only recently, she said she had given the factory colour designs for her new collection.

Ms Portas believed the factory had suffered from a cash flow problem but that it remained a viable business.

She said in a statement: "I'm really surprised to hear that Headen and Quarmby, the business that we licensed to manufacture the brand Kinky Knickers, has gone into administration."

She said the business had been in confident form: "Right up until this announcement, H&Q were telling me of their ambitious plans for our brand and the others they manufacture under licence as well as plans they had for their own ranges. It's especially sad as they were even opening an Academy later this month to help share the skills and learning."

'Sale' Kerry Bailey, from administrators BDO, said: "A drop in post-Christmas orders from key customers and a decline in sales volumes has significantly affected the business and resulted in a deterioration of its working capital position.

"However, we are doing everything we can to try to secure a future for the business, and we are hopeful of securing a sale. To that end, the administration team would welcome approaches from commercial parties interested in acquiring the business or assets."

BDO said the company had been affected by "a small number of bad debts" over the Christmas period, but these were low-value and that ultimately, the lack of future orders was the main reason for the administration.

The crotchless recovereh

Gidiot's March of the Makers not going so well. Unlike his land price boom.

[zugzwang]

Bottom's fell out of the market.

[Bloo Loo]

Ofcourse, she s blown away that a Board can tell her last week that it i doing this, planning that, while behind the scenes the place is getting bad debts, cant sell this months production and cant pay the wages.

ALL organisations are like this...ESPECIALLY the GOVERNMENT...indeed, they will lie even if the bailiffs are removing the announcers trousers as he is speaking.

[porca misèria]

Is Mary Portas's bottom line in the honourable tradition of Mrs Slocombe's pussy?

[MartinE]

If a buyer is found, administration could be briefs.

[Saving For a Space Ship]

They've hit the skids

Edited January 18, 2014 by Saving For a Space Ship

[LiveinHope]

So Mary Portas really helped them ...still it keeps her profile high

Daily Mail Link

Speaking at the time of the show Portas said: ‘The reaction has been amazing. Now the plan is to export and I’m hoping we’ll have another two factories making the knickers

Ahead of the Channel Four show Headen & Quarmby were a family firm established 70 years ago who had to send production overseas to make ends meet. Only a tiny section of their huge factory on the outskirts of Manchester was being used with rows of neglected sewing machines under covers.

But running a business, nevertheless.

Millions watched as eight raw apprentices were taken on board, overseen by Lynn Birbeck, whose family founded the factory in 1935.

The resulting ‘kinky knickers’ range was a resounding success and helped prove Portas’ ethos that quality, homegrown products could compete on the high street against cheap foreign imports.

But now, less than two years later, the factory has closed and the firm has gone into administration, with the loss of 33 jobs.

So, once the TV viewing public moved onto the next show, Portas was wrong in her belief that:

‘I sincerely believe that people want to buy British, but that choice was taken away from them.’

Well Mary, they didn't want to buy knickers at £10.00 a pop, did they ?

Still, she'll be heralded and continue to get paid for TV shows.

I pity those businesses she and the TV producers come into contact with and try to 'save'.

Edited January 18, 2014 by LiveinHope

[honkydonkey]

I'm guessing there's a big outflow. It needs a liquidity injection of some sort.

[LiveinHope]

I'm guessing there's a big outflow. It needs a liquidity injection of some sort.

Certainly, not for the small-minded

[juvenal]

I'll be relieved when this thread drawers to a close..

[Byron]

Seriously though,

When China can run up a whole suit for a few quid, we have to ask what direction the UK is going.

Our business rates are appalling, small businesses starting up, even from home are penalised savagely.

They are overburden with Health and Safety, ridiculous social legislation re pregnancy etc.

Result, a UK firm has to charge high prices leading to bankruptcy.

[winkie]

Seriously though,

When China can run up a whole suit for a few quid, we have to ask what direction the UK is going.

Our business rates are appalling, small businesses starting up, even from home are penalised savagely.

They are overburden with Health and Safety, ridiculous social legislation re pregnancy etc.

Result, a UK firm has to charge high prices leading to bankruptcy.

....so are you saying their debt is their income,tax income and some others zombie income?

[LiveinHope]

Seriously though,

When China can run up a whole suit for a few quid, we have to ask what direction the UK is going.

Our business rates are appalling, small businesses starting up, even from home are penalised savagely.

They are overburden with Health and Safety, ridiculous social legislation re pregnancy etc.

Result, a UK firm has to charge high prices leading to bankruptcy.

The firm had adapted to the conditions ---- until Mary Portas and the TV execs stuck their oar in, still they got their money

The point you make about business rates is justified, and add to that cost of living and you either offshore or import workers from abroad.

Edited January 18, 2014 by LiveinHope

[R K]

Gusset needs an equity injection

[TheCountOfNowhere]

pants.

[Andy T]

Middleton girls don't wear any knickers

[winkie]

Middleton girls don't wear any knickers

[Ash4781]

Do they supply Debenhams?

Edit: if they were it would explain alot

Edited January 18, 2014 by Ash4781

[Byron]

....so are you saying their debt is their income,tax income and some others zombie income?

I don't understand what you mean.

They go bankrupt because they cannot manufacture things as cheaply as China, and the reason may be because of the high overheads in the UK,

So, what direction is the UK heading?

[TheCountOfNowhere]

I don't understand what you mean.

They go bankrupt because they cannot manufacture things as cheaply as China, and the reason may be because of the high overheads in the UK,

So, what direction is the UK heading?

if the chancellor and media are to believed then, UP. so, its definitely DOWN.

[wherebee]

I do belive that we will see heavy protectionist tariffs introduced again in our lifetime. It's the only way not to end in revolution in Europe.

[winkie]

I don't understand what you mean.

They go bankrupt because they cannot manufacture things as cheaply as China, and the reason may be because of the high overheads in the UK,

So, what direction is the UK heading?

........non-viable businesses go bankrupt because they have used their debt to pay wages, pay taxes and sometimes pay other perilous business that are reliant on other business debt to survive as well as their own business debt to survive.........high overheads amongst other things only make things that are bad, worse.

[porca misèria]

I do belive that we will see heavy protectionist tariffs introduced again in our lifetime. It's the only way not to end in revolution in Europe.

You plan to get out before then?

Those of us who faff about in places like HPC won't be the winners in the subsequent desperate struggle for what little food remains to us after that kind of collapse.

[wherebee]

You plan to get out before then?

Those of us who faff about in places like HPC won't be the winners in the subsequent desperate struggle for what little food remains to us after that kind of collapse.

[/quote

already out, mate. and i don't think it will end in starvation, just 50's style life standards for 80% of people in the UK.

[Andy D]

http://www.bbc.co.uk/news/business-25781549

The crotchless recovereh

Gidiot's March of the Makers not going so well. Unlike his land price boom.

The Mrs has a pair and I doubt she be buying another pair as they're not the greatest knickers in the world - think they're trying to charge a premium over normal knickers but not delivering the quality / style of the more expensive ones e.g. Marie Jo at 26 quid a pop