A well-known UK fashion business has fallen into administration. Customers have been warned they will not be given any refunds they are owed. SilkFred has stopped accepting orders and won’t be able to handle any returns. Shoppers have been told not to send any items back.
Andrew Watling and Duncan Beat were named joint administrators. They said: “As a result of the administration, it is not possible to make any further refunds. Anybody owed money by SilkFred is now called a ‘creditor’, and you will rank as an ‘unsecured creditor’ in the administration.
“Creditor claims will be dealt with as set out in a legal order of priority, but unfortunately, based on current information, there will not be sufficient funds to make any payments to unsecured creditors.”
The announcement of the administration came through Instagram. It said: “We’re heartbroken to share that SilkFred has entered administration.
“In recent years, the ongoing cost-of-living crisis has placed immense pressure on consumers, while rising costs and increasing competition from overseas fast fashion have made it increasingly difficult for independent brands to survive.
“We remain incredibly proud of what SilkFred achieved – helping women discover outfits that made them feel amazing, while supporting hundreds of independent designers to grow their businesses.
“We’re deeply grateful to everyone who’s been part of our journey – our customers, our brands, and our team. Thank you to everyone who’s been part of our journey. You made SilkFred what it was.”
For shoppers who paid for items on SilkFred by credit card and spent more than £100, you may be eligible to claim a repayment from your card provider.
Other affected customers will need to request a refund under Section 75 of the Consumer Credit Act.