SilkFred, an online fashion marketplace, has gone into administration, affecting its 500 partner fashion brands like Apricot, Goddiva, Pretty Lavish, and Lily and Lionel. The company announced its collapse on Instagram this week.
The administration process began at the end of November, with Quantuma, a financial advisory firm, overseeing the proceedings. Quantuma has stated that no further orders will be fulfilled, aiming to refund customers whose orders have not been dispatched yet.
Unfortunately, if refunds cannot be processed, customers may not receive their money back from SilkFred. The company expressed regret over the situation and advised customers to contact their payment providers for assistance.
Customers who spent over £100 but less than £30,000 using a credit card can utilize Section 75 for refunds, while those who paid by debit card may consider using Chargeback. SilkFred acknowledged its administration on Instagram, attributing the collapse to the challenging cost-of-living environment and increased competition.
Founded in 2011 by Emma Watkinson, Stephen Jackson, and Kate Jackson, SilkFred has been a platform for independent designers to showcase their creations. Watkinson expressed gratitude towards customers, brands, and the team for their support over the years, recognizing their contributions to the company’s journey.