Business Entrepreneur Stories

S Kumars acquires Scottish fashion chain.
Internacionale”s sister company Au Naturale, a homeware retailer, was sold to Elaine McPherson, a Scottish entrepreneur and founder of the fashion chain MK One.

The problems facing Internacionale and Au Naturale were said to be associated with a slump in high street spending in Britain, arising from the global credit crunch, as well as mismanagement.

The two companies were said to have collapsed amid a cash flow crisis, in which they had been unable to meet many of their rent and service charge obligations for their outlets.

Graham Martin, one of three men appointed joint administrators of Internacionale Ltd, which owned and operated both Internacionale and Au Naturale, said in early May the company had suffered financial difficulties for the past nine months.

This entry was posted on Saturday, June 28th, 2008 at 10:33 pm and is filed under Business Entrepreneurs. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.