After blogging on how Urban Outfitter’s sales were taking more than a turn for the worst, it appears it is not the only shop in a spot of bother.
All Saints is being sold off to a US investor by the end of this week due to fears it was edging closer and closer into going into administration and proving that its clothing is becoming as popular as Nicole, Natalie and Shaznay themselves.
The fashion brand which has over one hundred stores and concessions in the UK, feared the worst when one of its main investors, an Icelandic bank, went into administration itself. The shop, known for its trademark Singer sowing machines decking the walls and higher than average price range will hopefully be saved by the last minute deal with an American company.
Clothing retailers have been hit hard by the rising cost of raw materials as cotton prices hit new highs this year. All Saints is majority-owned by Kevin Stanford, the entrepreneur who co-founded Karen Millen.
It will be a shame if this deal ends in disaster as it appears that even well established shops are struggling. Do we really want our choice of clothing be limited to the huge retailers such as New Look, Topshop and the various Supermarket offerings? At least All Saints gave us something a little bit different, even if I do like the layout and design of the shops more than I actually like the clothing…
With the success of the All Saints’ boot last year you think they wold still be raking it in from those vile shoes that have become the uniform for every man chav with their chest out.