Atterley.com has collapsed into administration for the second time after failing to safe an important money injection.
The net market, which hosts 250 unbiased retailers, mentioned it was unsuccessful in securing funding from current shareholders or exterior buyers.
The Scottish retailer has appointed Brian Milne and David McGinness of French Duncan as joint provisional liquidators to deal with the method.
On Thursday, the style etailer stopped taking new orders on its web site.
Subscribe to Retail Gazette at no cost
Enroll right here to get the most recent information straight into your inbox every morning
Atterley.com mentioned in an announcement: “Final week, it grew to become clear that we would have liked important funding by means of to Q2 2023.
“Nevertheless, it was not doable to place this collectively from current shareholders or exterior buyers.
“We deeply remorse what has occurred and did aren’t taking this course frivolously or simply. We’re conscious that this can be a tough state of affairs for our workers, significantly presently of 12 months.
“We’re additionally acutely aware of the affect on our unbiased boutique companions and constant clients.
“We’re conscious of our obligations to workers, companions and clients, and wish to thank them for what they’ve carried out since 2016, when Atterley.com took on its new kind.
“We will likely be working with the insolvency practitioner over the approaching days to kind a plan.”
The Scottish etailer first collapsed into administration in January 2016 and was bought by The Welch Group, which relaunched the model’s web site later that 12 months.
Click on right here to enroll to Retail Gazette‘s free every day e mail e-newsletter
