London-based Enlist Brands has fallen into administration, resulting in seven job losses, its co-founder Mario Arena has confirmed.
The men’s and women’s wear brand, which was founded by Arena and Peter Farrow in 2015, cited cash-flow problems bought on by the Brexit vote and other factors for the demise of the business.
Arena and Farrow launched the brand with the aim to create a seasonless wardrobe of modern, everyday essentials for both men and women in premium fabrics.
Enlist is stocked in Harvey Nichols and was due to launch onto Farfetch in July. The brand traded in the UK, US, China, Japan and Saudi Arabia.
Speaking to Drapers Arena said: “We had to go into administration on Thursday [14 June], what hit us first was Brexit and the outcome from that. The cost of goods went up drastically and other things contributed to it, it’s been a very tough retail environment and there has been no summer.
“We did have some amazing forward orders, we sold to Mr Porter and we were due to go onto Farfetch in July.
“Unless someone comes and purchases the brand or the trade mark it will probably be wound up in the next week.”
Arena confirmed that the firm had spoken to several potential buyers, including some in China, Holland and in the UK, but an agreement could not be reached.
Hudson Weir has been appointed as insolvency practitioners for the firm.