Buyer sought for online fashion retailer
Well known premium fashion retailer Coggles Limited based in York has been placed in the hands of joint administrators Andy Clay and David Acland of Begbies Traynor.
Founded in 1974 as ‘Sarah Coggles’, the company had built on the success of its outlets on Low Petergate in York by developing an online retail business supplying over 200 men’s and women’s designer collections from established fashion houses, emerging designers and rare international labels.
Despite attempts by the directors to restructure and to attract new investment, the company was placed in administration on 7 May 2013. The joint administrators are continuing to trade Coggles while a buyer is being sought for the business and goodwill.
“We are continuing to trade two of the York stores and the website as usual while we market the business. With its strong brand name and excellent reputation, we are optimistic that a buyer will be found and that Coggles will continue in some form,” explains joint administrator Andy Clay of Begbies Traynor in York.
“We are currently reviewing the business and making every effort to secure a return for the creditors and a future for the business and its staff.”
Coggles had 60 staff and approximately 30 redundancies have been made.
Following graduation from the University of Hull, Julian qualified as a Chartered Accountant with Coopers & Lybrand in Leeds. After a short time with Baker Tilly, in 1989, together with David Wilson, he established Wilson Pitts, a specialist independent practice dealing with all aspects of insolvency and corporate recovery work. In 2006, the Wilson Pitts practice was acquired by Begbies Traynor where Julian is now the Joint Regional Managing Partner for the North-East region.