Luggage brand Antler Holdings has appointed KPMG as administrators – only three months after it was acquired by fashion tycoon Michael Lewis.
Will Wright and Steve Absolom have been appointed as joint administrators and will oversee the administration of Antler Holdings Limited and Antler.
While the majority of the group’s 199 members of staff were furloughed in light of the ongoing coronavirus crisis, KPMG confirmed that it has “regrettably” made 164 redundancies following the administration.
The majority of employees who were made redundant worked across the company’s retail estate.
The luggage brand was founded in 1914, and operated from 18 retail stores and one concession outlet. It also traded through its website, Amazon and wholesale to several large retail chains across the UK.
Will Wright, partner at KPMG and joint administrator, said: “Like so many companies across the retail and travel sectors, Antler has been profoundly impacted by the Covid-19 pandemic.
“Although the business was trading well prior to the virus outbreak, restrictions imposed at the start of the lockdown period prompted the closure of Antler’s retail and wholesale outlets, while the impact on international travel has also significantly affected sales.”
He added: “With uncertainty over the lifting of travel restrictions placing further financial strain on the business, the directors concluded that they had no option but to appoint administrators.
“We will continue to trade the business via its online channels while we assess options for this iconic brand and would invite any interested parties to make contact with us at the earliest opportunity.”