Luxury fashion label Roland Mouret is reportedly facing financial difficulties and may be forced to appoint administrators. The COVID-19 pandemic and subsequent lockdown measures have hit high-end fashion brands hard, and Mouret, with its focus on occasion dressing, has been particularly affected as social events and red carpet appearances have been cancelled worldwide. While other brands successfully shifted their focus to loungewear, this strategy may not have worked well for Mouret due to its reputation for dressy attire.
According to The Times, Mouret has filed a notice of intent to appoint administrators. This comes after news last month that the company’s investors were exploring financing options to keep the brand afloat. Roland Mouret is co-owned by the designer himself and entertainment mogul Simon Fuller. In an interesting move last year, the brand’s landlord, Grosvenor Estates, also invested in the business as part of a fund to support struggling tenants during the retail crisis.
Numerous British businesses have been heavily impacted by the pandemic, and several well-known companies, including Laura Ashley, Debenhams, Jaeger, and Oasis, have already succumbed to the economic challenges and changed ownership. Ralph & Russo, a high-end brand, has also experienced significant setbacks. The survival of other luxury brands is uncertain, as the financial aftermath of the pandemic continues to present significant obstacles, particularly in terms of accessing enough capital to take advantage of the reopening.
Roland Mouret has yet to comment on The Times’ report, and the brand’s recent financial accounts have not been filed. However, in 2019, Mouret reported sales of £16.1 million and pre-tax profits of £242,667. The future of the brand remains uncertain, and it is unclear whether Roland Mouret will be able to overcome its current financial challenges and continue to operate in the luxury fashion market.
Sources:
– [The Times](https://www.thetimes.co.uk/article/rolandmouret-faces-appointment-of-administrators-g2j7fwdnv)
– [Sky News](https://news.sky.com/story/roland-mouret-files-notice-to-appoint-administrators-12400589)
