My-Wardrobe.com to shut down for good?

My-Wardrobe.com may shut down its business for good as early as next year,
as the struggling premium retailer continues to cut prices until its
current season stock sells out.

According to sources close to the online retailer, My-Wardrobe.com will not
last longer than three months, with a number of current employees searching
for new “challenges” elsewhere, reported Retail Gazette.

The troubled e-tailer first began slashing its current season prices
earlier this month by launching a 40 percent off sale on all its current
season stock. The move came not long after My-Wardrobe.com revealed the
future of its business was under review as it paused “to review all
strategic options.”

At the time the online retailer also cancelled all its spring ’15 orders,
but declined to provide further details on what these potential options
could include.

“My-Wardrobe is currently pausing to review all strategic options – all
employees and suppliers will be paid and it’s business as usual for the
moment,” said the company in a statement at the time. Now the e-tailer has
increased its sale to 50 percent with free delivery.

The price comes after the premium e-tailer, which was sold in a pre-pack
administration last November to Growth Capital Acquisitions, previously
pledged to stop discounting its products and aimed to focus on investing in
bridge brands such as Acne and Ash, to fill the gap between online
retailers Asos and Net-a-Porter.

My-Wardrobe.com was founded by former husband and wife team Andrew and
Sarah Curran in 2006. The online retailer did well in its early years and
went on to become one of the fastest growing e-commerce businesses in the
UK. However the pair divorced in 2011, and in 2013 both founders left the
company. Andrew later returned to the company, only to leave again in March
2014.
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