SilkFred, an online fashion marketplace, has gone into administration. The company, which partners with 500 fashion brands like Apricot, Goddiva, Pretty Lavish, and Lily and Lionel, made the announcement this week on Instagram. The administration process started at the end of November, with Quantuma, a financial advisory firm, taking charge.
Quantuma stated that no new orders will be fulfilled, and they aim to refund customers whose orders were not shipped. Unfortunately, if they cannot process a refund, obtaining one from SilkFred will not be possible. Customers awaiting orders are advised to contact their credit or debit card providers for potential refunds.
For purchases over £100 but less than £30,000 made with a credit card, consumers can utilize Section 75 protection. Debit card users may explore Chargeback options for refunds. SilkFred expressed sadness over the situation, attributing the collapse to economic challenges and fierce competition in the fashion industry.
Founded in 2011 by Emma Watkinson, Stephen Jackson, and Kate Jackson, SilkFred expressed gratitude to customers, brands, and team members for their support throughout the journey. Watkinson praised independent designers for their dedication and the customer base for contributing to small businesses’ success. Despite the challenges, the company acknowledged the positive impact it had on job creation and opportunity generation within the fashion industry.