Seraphine, a UK-based fashion retailer of maternity wear, is on the verge of collapsing into administration, according to reports.
The Financial Times revealed that the group, which was one of several companies that rushed to list on the London stock market in 2021, has filed notice to appoint administrators from Interpath Advisory.
Seraphine had floated in July of that year and listed with a £150m valuation, raising £56m from investors in its IPO.
However, the company’s value subsequently fell and Mayfair Private Equity, which used the proceeds from the listing to pay off loans, bought Seraphine back for just £15.3m in 2023.
Seraphine, based in London, has stores in the UK as well as France, the US, Hong Kong and Dubai.
The Financial Times reported that Seraphine had recently hired advisers at Interpath to find new investors amid challenging circumstances for the company, but that this process has since failed.
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