UPDATE: The online fashion retailer SilkFred has officially entered administration, leaving customers unable to receive refunds or complete pending orders. This urgent development comes just days after the company appointed administrators on October 24, and formally entered administration by October 29, ceasing all operations.
SilkFred, which boasts over 500 independent brands, has taken its website offline and has urged shoppers not to return unwanted items. In a shocking statement, the company confirmed that no further deliveries will be processed and that refunds are currently impossible.
The joint administrators from Quantuma, Andrew Watling and Duncan Beat, elaborated on the situation, stating:
“As a result of the administration, it is not possible to make any further refunds. Anybody owed money by SilkFred is called a ‘creditor’ and you will rank as an ‘unsecured creditor’ in the administration.”
Customers who have not received their goods may still pursue refunds through their credit card providers under Section 75 of the Consumer Credit Act, but only if they spent between £100 and £30,000. Those eligible can recover their full payment if they used their credit card for part of the transaction.
In a heartfelt message posted on Instagram, SilkFred expressed its sorrow over the situation, attributing the collapse to the ongoing cost-of-living crisis and fierce competition from overseas fast fashion brands. The retailer stated:
“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.”
This news has sent shockwaves through the fashion community, with many customers left frustrated and out of pocket. Vouchers and gift cards purchased from SilkFred will also not be honored, adding to the distress for loyal shoppers.
SilkFred, founded in 2011 by entrepreneur Emma Watkinson, has been a significant player in the online fashion industry, helping to elevate independent brands like Apricot, Pretty Lavish, and Goddiva. The company’s international reach included operations in the US, UAE, Ireland, and Australia.
Watkinson expressed her gratitude to all who supported SilkFred throughout its journey, reflecting on the positive impact the company had on many independent designers. She acknowledged the challenges posed by the current economic climate, stating:
“You helped to create jobs and opportunities for so many people – you really did make a lot of dreams come true.”
As the situation unfolds, customers are urged to explore their options for potential refunds while keeping an eye on any announcements from the administrators. For anyone affected, it’s crucial to act quickly and stay informed about their rights and potential avenues for recovery.
Stay tuned for further updates as this story develops.
