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LA SENZA PLANS TO ENTER ADMINISTRATION: La Senza, the British lingerie retailer owned by private equity firm Lion Capital, last week filed a notion of intention to appoint administrators, which is the U.K. equivalent of entering Chapter 11 bankruptcy protection.
“Due to trading conditions in La Senza’s high street locations and the overall macro environment, which are having an adverse effect on the company, the board of directors of La Senza has filed a notice of intention to appoint administrators,” the company said Friday, adding that an administrator is set to be appointed within 10 business days. In the interim, the business continues to trade as normal and there have been no unplanned redundancies or store closures, the company said.
Earlier this month La Senza hired KPMG to restructure the firm and “explore all options to safeguard the future of the company and its employees.” The company operates 146 stores in the U.K. and is separate from the Canadian lingerie retailer La Senza, owned by Limited Brands.