Links of London has joined the list of British retailers which has recently fallen into administration, putting 350 jobs at risk. Founded in 1990, Links became known for its distinctive designs and fresh approach to luxury which were in sync with the explosive creativity of London’s art, music, film and restaurant scenes at the time. The company operates over 330 stores globally, with 35 located in the UK and Ireland.
Matt Smith, joint administrator from Deloitte, said in a statement: “The company has had to contend with difficult trading conditions that have impacted the whole retail sector. The directors have been seeking alternative solutions, including consideration of a CVA, refinancing or sale, but have unfortunately been unable to conclude such a transaction. In light of ongoing cash flow pressures, this has left the directors with no choice but to place the business into administration. We intend to continue to trade the business and will be exploring any options for a sale. If this cannot be achieved, then we will seek to realise stock and other assets over a period of trading for the benefit of the company’s creditors. The company is well known in its market, having been present on British high streets for almost 30 years. This is not the outcome we hoped for and will, of course, be difficult news for employees and their families. We appreciate the support of management and we will continue to support employees through this time.”