SilkFred, an online fashion marketplace, has gone into administration. The company, which collaborates with 500 fashion brands like Apricot, Goddiva, Pretty Lavish, and Lily and Lionel, announced its collapse in a recent statement on Instagram.
The administration process for SilkFred commenced at the end of November, with Quantuma, a financial advisory firm, overseeing the proceedings. Quantuma has stated that no new orders will be fulfilled and is aiming to refund customers whose purchases were not yet dispatched.
Unfortunately, if refunds cannot be processed by SilkFred, customers may not be able to recover their funds. Those awaiting orders are advised to contact their credit or debit card provider for potential refund assistance.
Customers who spent over £100 but less than £30,000 with a credit card can utilize Section 75 for refunds, while debit card users may explore Chargeback options.
In a heartfelt message on Instagram, SilkFred expressed sadness over its administration and attributed challenges to the cost-of-living crisis and competition from fast fashion brands abroad. The company acknowledged its impact in helping women find confidence-boosting outfits and supporting numerous independent designers.
Founded in 2011 by Emma Watkinson, Stephen Jackson, and Kate Jackson, SilkFred received gratitude from its founders for the support of customers, partners, and team members. The company’s contribution to small businesses and emerging designers, generating over $500 million in sales, was also recognized.
Despite the administration, SilkFred’s legacy remains a testament to its dedication to empowering independent brands and creating opportunities within the fashion industry.
