Luggage brand Antler collapses into administration
Luggage brand Antler has become the latest victim of the coronavirus crisis, collapsing into administration today due to the collapse in international travel.
Big four auditor KPMG has been appointed as the administrator for the brand, which is over a century old.
Administrators have already made 164 of the firm’s 199 staff redundant, KPMG said in a statement.
Will Wright, a partner at KPMG and one of Antler’s administrators, said: “Like so many companies across the retail and travel sectors, Antler has been profoundly impacted by the Covid-19 pandemic.
“Although the business was trading well prior to the virus outbreak, restrictions imposed at the start of the lockdown period prompted the closure of Antler’s retail and wholesale outlets, while the impact on international travel has also significantly affected sales.
“With uncertainty over the lifting of travel restrictions placing further financial strain on the business, the directors concluded that they had no option but to appoint administrators”.
The company operates 18 retail stores and one concession outlet, in addition to selling via their website, Amazon and wholesale to several large retail chains across the UK.
The majority of the staff’s 199 staff had already been placed on the government’s job retention scheme.
The travel sector has been one of the hardest hit by the pandemic, with demand slumping due to stringent travel bans and worldwide border closures.
KPMG said it would continue to trade the brand via online channels while it considers options for Antler in the future.