Frost French in administration |
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Thursday, 07 August 2008 |
Creditors to Sadie Frost's clothing company FrostFrench are expected to receive less than 10p in the £1 after the company called in
the administrators last week. The lingerie and accessories brand collapsed owing more than £4m and its subsequent sale for a 'six-figure' sum fell far short of the amount needed to settle its debts. Asher Miller, of accountant David Rubin & Partners, which is running the administration, said the proceeds from the rescue deal brokered with a Norwegian consortium would mean a 'small' dividend payout to investors, but refused to comment on its size. The brand's future has been safeguarded by the new backers, who include John Joakim, a Norwegian film producer and property investor.
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