Ollie & Nic rescued from administration
22 February 2011 09:23
Vintage accessories brand Ollie & Nic has been rescued from administration by Principles founder Peter Davies.
Mr Davies, Richard Sims and Chris Inman, who previously held senior roles in Arcadia and were part of the Rubicon team that undertook a management buyout of Warehouse and Principles from Arcadia in 2001, are part of Onyx Retail – a group specifically set up to complete the deal.
Ollie & Nic founders Nick and Jane Hill will remain with the company along with incoming managing director Mark Vandenberghe, former international director of both Monsoon and Accessorize.
Mr Hill commented: "Both Jane and I are confident that in Peter, Richard and Chris we have found a team who bring a wealth of retail experience in addition to financial backing.
"The Ollie & Nic business has been built on our passion for fashion accessories and this investment brings with it a new structure which puts the business in a much stronger position."
Ollie & Nic operate 11 standalone stores in the UK and is available in retailers including Harvey Nichols and Urban Outfitters. The brand was established in 2002.
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