These days, the lingerie business is not all lace and frills. Intimas Group plc, a U.K.-based intimate apparel maker, entered the doldrums of
administration Thursday. Now, senior executives say they are focused on selling the business and its key brands.
Intimas' road to bankruptcy has been long, and in hindsight, practically inevitable. The company in November got a £5 million ($8.2 million) capital injection from
Lloyds TSB after reporting a £1.65 million loss for the first six months of 2008 and a £3.8 million loss in 2007.
Retailers across the board have been struggling to move merchandise, so companies that were in a precarious position before the credit crunch have had the odds stacked against them to an even greater extent.
Intimas' three-year deal with British model Caprice for an eponymous line of lingerie, nightwear, swimwear and clothing is set to end shortly. The company's other major alliance is with Ted Baker, a British clothing retailer, for which Intimas makes Ted Baker Intimates. -
Sara Behunek
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