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Internacionale files notice to appoint administrator

Internacionale UK has filed a notice of intention to appoint PricewaterhouseCoopers as administrators today.

Lyn Vardy, Toby Underwood and John Cartwright of PwC have been named as intended joint administrators for the retailer, which until last week employed more than 1,500 people across around 110 stores.

Documents were filed at Manchester’s High Court today (February 24) by Internacionale director Raj Sehgal, who last week told Drapers Granite was “in control” of the business.

F C Fund Managers - headed by restructuring specialist Jason Granite - and Barclays Bank were named as “persons who are or may be entitled to appoint an administrative receiver of the company or an administrator”.

It also stated that Internacionale UK has not been in administration in the last 12 months. Internacionale UK was the new company created when Internacionale Retail entered administration last July, and backed by the same shareholders.

It follows Drapers’ exclusive last Monday (February 17) that widespread redundancies were being made in the head office and throughout stores.

Drapers has also highlighted how bailiffs have been entering stores because of unpaid rent, and that suppliers were claiming to have six-figure bills unpaid.

Readers' comments (3)

  • Already my susbcription to Internacionale.com has been 'sold' to fashion union as I have just been given a 'thank you for signing upto fashion union' e-mail. Wonder how long it will be until we see some of the old Internacionale stores re-branded to Fashion Union....

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  • Hi anonymous - would it be possible for you to email that to me? My address is catherine DOT neilan AT emap DOT com

    Thanks

    Catherine Neilan
    News editor

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  • Raj Sehgal is not trustworthy, he should be ashamed of himself! Now we know how he's made his millions... Hope he and his family feels comfortable using the money that he has taken from others (by screwing them over)!

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