In The Style: popular UK fashion brand returns from administration with rescue deal, securing 87 Jobs - news

• A popular fast fashion brand, has been acquired in a rescue deal after entering administration
• In The Style has been purchased by Alps Sourcing Limited, linked to former owner Baaj Capital, saving 87 jobs
• In The Style faced insolvency due to mounting debt, cash flow problems, and increased competition
• The Manchester-based company, founded in 2013, was once valued at £105 million following its 2021 stock market debut
• Despite challenges, the brand's influencer collaborations helped it gain popularity, especially among young women

A popular fast fashion brand has been acquired in a rescue deal after entering administration.

In The Style has been purchased by Alps Sourcing Limited, a company connected to former owner Baaj Capital, securing 87 jobs in the process.

It comes after FTS Recovery were appointed as administrators for the online retailer last week. Administrators said In The Style faced insolvency due to mounting debt, which caused cash flow problems and impacted its suppliers.

The Manchester-based company, founded in 2013 by Adam Frisby, was valued at up to £105 million after its stock market debut in 2021.

But the brand faced challenges as shoppers returned to the high street as Covid-19 lockdowns were lifted, and was sold to Baaj for approximately £1 million in 2023, just avoiding administration.

Marco Piacquadio, director of FTS Recovery and joint administrator, said: “Since being brought in to help, our focus has been to seek to rescue as many elements of the business as possible.

“We are really pleased to have secured this outcome and to have rescued so many jobs.”

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From its early days, In The Style focused on offering affordable, stylish clothing targeted primarily at young women, and quickly gained attention for its unique selling point; partnering with high-profile influencers and celebrities.

Notable collaborations included partnerships with TV personalities like Stacey Solomon and various social media influencers.

But the return of shoppers to physical stores post-Covid, combined with rising competition in the online fashion space, created financial strain for In The Style.

What do you think about In The Style's rescue deal and the challenges faced by fast fashion brands in today’s market? Share your thoughts in the comments below – we’d love to hear your opinion on the brand’s future and its impact on the fashion industry!