UPDATE: SilkFred, a leading online fashion retailer with over 500 independent brands, has officially entered administration, leaving customers facing the devastating news of no refunds on their purchases. The announcement comes as the company confirmed it began the administration process on October 24, and by October 29, had ceased all operations, taking its website offline.
Shoppers are now unable to complete orders or receive refunds for items that were not delivered, creating significant financial distress for many. In a statement, SilkFred announced, “No further deliveries will be made, and refunds are not currently possible.” The company urged shoppers not to return unwanted items, emphasizing the dire situation.
The joint administrators from Quantuma indicated that discussions with payment processors would not yield refunds for customers. “As a result of the administration, it is not possible to make any further refunds. Creditor claims will be handled in a legal order of priority, but unfortunately, based on current information, there will not be sufficient funds to make any payments to unsecured creditors,” said administrators Andrew Watling and Duncan Beat.
Customers should also be aware that vouchers and gift cards purchased from SilkFred will not be accepted, heightening the frustration for many who relied on these forms of payment. Reportedly, some customers may still have the option to claim refunds through their credit card providers under Section 75 of the Consumer Credit Act, provided they spent between £100 and £30,000 and used their credit cards for part of the transaction.
SilkFred expressed deep gratitude to its customers, brands, and team in an emotional Instagram post, stating, “We’re heartbroken to share that SilkFred has entered administration.” They cited the ongoing cost-of-living crisis and increasing competition from overseas fast fashion as critical factors affecting independent brands’ survival.
“We remain incredibly proud of what SilkFred achieved – helping women discover outfits that made them feel amazing,” the company added.
Established in 2011 by entrepreneur Emma Watkinson, SilkFred initially launched in London and expanded internationally, serving markets in the US, UAE, Ireland, and Australia. Watkinson reflected on the journey, thanking every independent brand owner and emerging designer who contributed to SilkFred’s success.
As the fashion retailer navigates this turbulent period, customers are urged to remain vigilant and explore possible refund options through their credit card companies. The situation is evolving rapidly, and affected consumers are encouraged to seek support wherever possible.
Stay tuned for further updates on this developing story as the implications for affected customers continue to unfold. This situation highlights the increasing challenges faced by independent fashion brands in a competitive marketplace.
