La Senza creditors lose out on £2 million

La Senza creditors have reportedly lost out on £2 million due to a court ruling that 15 lorry loads of underwear belong to the retailer’s freight company.

The ruling went against administrator KPMG, who hoped to lay claim to the products, which were being shipped from Asia when the company collapsed earlier this year.

Some of the items are still en route, but the majority of the stock is now situated at the Tilbury Docks in Essex.

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Freight forwarding company Uniserve has now won the right to keep the lingerie, despite recent reports that thousands of suppliers to the chain will only get 1p to 5p back for every pound that they are owed.

Kuwaiti company Alshaya UK Ltd, a part of the Alshaya group signed a deal with KPMG in January, 2012, to acquire the exclusive franchise rights for the La Senza brand in the UK and to take over 60 of its stores.

The deal and subsequent plans for the business, which include new product collections and store redesigns, represent a planned investment of around £100m in the UK retail sector over the next two years by Alshaya.

 

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