Fashion Brand Saved from Collapse with £1.2m Deal
- In The Style owed over £20m before rescue deal
- Collapsed into administration with a £8.4m loss in March 2023
- Sold to Baaj Capital for £1.2m
- Reduced revenue from £57.3m (2022) to £30.4m (2024)
- Cut jobs to reduce losses
- Seeked advice from FTS Recovery in February 2025
- Cash flow issues due to legacy contracts and economic climate
In The Style, a Manchester-based fashion brand, faced over £20 million in debt before being rescued by Alps Sourcing Limited, saving 87 jobs. Founded in 2013 as an e-commerce platform, the company experienced a loss of £8.4 million in March 2023 and was sold to Baaj Capital for £1.2 million. Despite a pre-tax loss improvement from £7.7m (2023) to £2.6m (2024), revenue dropped from £45.9m to £30.4m, leading to job cuts. The brand sought advice from FTS Recovery in February 2025 due to cash flow issues and a market downturn. In the Companies House document, it was revealed that legacy contracts cost the company around £1 million since Baaj Capital’s takeover, causing negative publicity and damage to goodwill.
Factuality Level: 8
Factuality Justification: The article provides accurate information about In The Style’s financial situation, its sale to Alps Sourcing Limited, and the reasons behind the pre-packaged administration sale. It also includes relevant details about the company’s performance and challenges faced in the economic climate.
Noise Level: 3
Noise Justification: The article provides relevant information about the financial struggles of In The Style, its debt, and the actions taken by the company to address these issues. However, it lacks in-depth analysis or exploration of broader trends or consequences for similar businesses. It also does not offer significant actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses the financial situation of In The Style, a fashion brand that experienced significant debt, losses, and had to cut jobs due to declining sales. It also mentions the involvement of Alps Sourcing Limited in rescuing the company and the impact of the economic climate on the business.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event in the text, and it does not mention any event that happened in the last 48 hours.
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