Nicole Farhi, the London fashion label and retail chain, has gone into “administration,” the British term for bankruptcy.
The company has appointed the restructuring adviser Zolfo Cooper (New York) to take over the business and find a buyer. If no buyer can be found, it may have to close.
The fashion label, started by Farhi in 1982, became part of the larger British fashion company French Connection (London), run by Farhi’s former husband, Stephen Marks. (She is currently married to playwright Sir David Hare and has the title Lady Hare. She also has her own CBE designation, bestowed on her in 2007 by Queen Elizabeth II.)
French Connection sold the Farhi label in 2010 to a private equity firm. It is now owned by investment firm Kelso Place Asset Management Ltd. (London).
Nicole Farhi has five standalone stores in Britain and also sells its clothing in department stores Harvey Nichols, House of Fraser and Selfridges across the U.K.