SilkFred, an online fashion marketplace, has gone into administration. The company, known for collaborating with 500 fashion brands such as Apricot, Goddiva, Pretty Lavish, and Lily and Lionel, confirmed its collapse in a recent statement released on Instagram.
The administration process began at the end of November, with Quantuma, a financial advisory firm, appointed to oversee the proceedings. Quantuma has stated that no new orders will be fulfilled, and they aim to refund customers whose orders have not been dispatched yet.
Unfortunately, if refunds cannot be processed by SilkFred, there may be no further recourse for customers. For those awaiting orders, seeking assistance from their credit or debit card provider for a refund is advised.
Customers who made purchases exceeding £100 but less than £30,000 with a credit card can utilize Section 75 for refunds. Alternatively, those who paid via debit card may explore Chargeback options for potential refunds.
In a message shared on Instagram, SilkFred expressed sadness over the administration, attributing it to the financial challenges faced by consumers and the competitive landscape in the fashion industry. The company acknowledged its achievements in empowering women to find stylish outfits and supporting independent designers.
Established in 2011 by Emma Watkinson, Stephen Jackson, and Kate Jackson, SilkFred’s founder expressed gratitude to all supporters, partners, and team members who contributed to the brand’s journey. The company’s closure marks the end of a chapter that saw many small businesses and designers thrive through its platform.
SilkFred’s loyal customer base was also commended for their role in generating over $500 million in clothing sales, creating employment opportunities and realizing dreams for many individuals.
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