SilkFred, an online platform for fashion, has gone into administration. The company, which collaborates with 500 fashion brands like Apricot, Goddiva, Pretty Lavish, and Lily and Lionel, made the announcement through a statement on Instagram. The administration process began at the end of November, with Quantuma, a financial advisory firm, managing the proceedings.
Quantuma has stated that no new orders will be fulfilled, aiming to refund customers whose orders were not dispatched. However, if refunds cannot be processed, obtaining reimbursement directly from SilkFred may not be possible.
Customers awaiting orders may file claims during the administration process, although the likelihood of receiving payments is uncertain. In such cases, contacting credit or debit card providers for potential refunds is advised. For purchases exceeding £100 but below £30,000 with a credit card, Section 75 can be utilized, while Chargeback may be an option for debit card transactions.
SilkFred expressed sorrow over the situation, attributing the collapse to the financial challenges faced by consumers and the intense competition in the fashion industry. The company acknowledged its achievements in empowering women to find stylish outfits and supporting numerous independent designers.
Established in 2011 by Emma Watkinson, Stephen Jackson, and Kate Jackson, SilkFred received appreciation for its impact on small businesses and emerging designers. Watkinson, in a message on Instagram, thanked supporters, partners, and customers for their contributions to the brand’s journey, emphasizing the positive influence on job creation and business growth.
The company’s closure marks the end of a significant chapter, highlighting the challenges faced by independent brands in the evolving fashion landscape.
