Victoria Beckham has been called “the mother of all comebacks” following the collapse of fashion group Matches.
The former Spice Girl and bosses at her VB brand demanded the online retailer return all the summer stock it sent her in March, only to discover days later that the company had gone bust.
A VB source says he has been working with Mike Ashley’s Frasers Group, which bought Matches last December, to get his clothes back because he fears the company, now in administration, will not pay him.
There are currently 68 VB lines for sale on the web. The source said: “Matches continues to sell designer clothes online and has promised to pay for everything.” But some brands, like VB, have insisted on taking back stock so they can sell it themselves. Not everyone is convinced that Mike Ashley’s company (and the administrators) will pay up.’
The former Spice Girl and bosses at her VB brand have demanded the online retailer return all summer stock
Luxury womenswear brand Cefinn, owned by Samantha Cameron (pictured), was worried about not recovering a huge summer order placed by the retailer.
Different brands have their own agreements with Matches. In the case of VB, Victoria has ordered the return of her entire collection, something that has been agreed in principle. Smaller brands had to cancel stock and now face losing their business.
Luxury womenswear brand Cefinn, owned by Samantha Cameron, was worried about not recovering a huge summer order placed by the retailer. The Foreign Secretary’s wife feared a financial crisis after making huge quantities of Cefinn clothing for Matches and shipping the order without receiving advance payment. When the managers moved out, she was told her clothes were no longer needed and she was forced to foot the bill, until VB paved the way for a gigantic comeback.
A source said: ‘After VB demanded the return of all his shares, Cefinn followed suit and insisted on a full return. Matches has agreed to do so, in principle, for both labels. Shipments have begun, but it is a slow process. She is the mother of all returns.’
There were fears among staff that the closure of Matches would push Cefinn to the brink of collapse, although the Ministry of Health understands the company now hopes to survive.
Cefinn, VB, Matches and Frasers Group declined to comment.