Contrary to prior press reports, partners of business advisory firm Quantuma have been appointed joint administrators at fashion and homeware retailer Kiely Rowan plc – T/As Orla Kiely, in addition to two associated partnerships; Killyon Stem LLP and Killyon Stem Home LLP.
Prior to Quantuma’s appointment, management of the business closed down the company’s stores on the King’s Road and Seven Dials in London, and Kildare in Ireland, and approximately 50 people were made redundant.
Quantuma partners Chris Newell and Simon Bonney have been named as joint administrators.
Chris Newell said: “With all the recent press, it is common knowledge that the retail environment is challenging and sadly, the employees of Kiely Rowan plc are the latest to feel those effects. Early indications are that there is a very significant shortfall to creditors but we will know more once we commence our investigations. Our initial responsibilities will include helping the former employees and securing the assets of the Company.”