The BBC has reported that fashion label Sonia Rykiel has gone into liquidation after an unsuccessful search for a purchaser. Following the latest report from CBI how many more fashion labels will struggle in these uncertain times for the retail sector?
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The business she founded was bought by First Heritage Brands seven years ago. The investment group, backed by Hong Kong billionaires Victor and William Fung, relaunched the brand with millions of dollars of new investment and cut costs, but the business continued to make a loss.
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