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Retailer Orla Kiely ceases trading on cash crunch

Retailer Orla Kiely ceases trading on cash crunch

Orla Kiely has ceased trading
Handbag and homeware retailer Orla Kiely has closed its retail stores and website, becoming the latest victim of the difficult retail landscape. Orla Kiely ceased trading on Monday after its parent company, Kiely Rowan, went into administration.The retailer's stores on the King's Road and Seven Dials in London, and Kildare in Ireland, have closed.However, Orla Kiely Home and Design-branded accessories and homeware will still be sold through partners."Thank you for embracing our brand and designs throughout the years and for your ongoing support," said the brand, which is known for its vintage 1970s-inspired prints.
David Ruben & Partners have been appointed as administrators. Sources told Ibex News that staff were escorted out of the building in tears on Monday, minutes after being told by the retailer's founder and chief executive Orla Kiely, 55, that they were being made redundant. Staff were reportedly told that the retailer did not have enough funds to pay their salaries.
High street woes
Orla Kiely is the latest in a series of retailers that have been forced to shut up shop on UK high streets.Retailers have been hit by weak sales, online competition and rising costs, affecting 22,000 jobs this year.High-profile failures include Maplin and Toys R Us while high street chains such as Marks & Spencer, House of Fraser, Carphone Warehouse, New Look and Carpetright have announced store closures.
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