(Filed Under retail Lingerie News). One hundred fifty-eight La Senza stores in the U.K. are facing an uncertain future as the chain has called on a third-party accounting firm to restructure the company.
The retailer, currently owned by private equity group Lion Capital, may be placed in administration — a process similar to filing for Chapter 11 bankruptcy in the United States. Speculation about La Senza’s indeterminate future was further bolstered as the company reported its worst-ever first-half financial performance, posting a loss of £800,000, or approximately $1.25 million.
Lion Capital acquired U.K. La Senza stores in 2006 for £100 million. The restructuring, which is being handled by global firm KPMG — does not affect La Senza stores in Canada, which are owned by Limited Brands, Inc.
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