Victoria Beckham has called in ‘the mother of all returns’ after the bankruptcy of fashion group Matches.
The former Spice Girl and bosses at her VB label have demanded the online retailer return all the summer stock she sent there in March, only to find out days later that the company has gone bankrupt.
A VB source says she has been working with Mike Ashley’s Frasers Group, which bought Matches last December, to get her clothes back because she fears the company, now in administration, may not pay her.
There are currently 68 VB lines for sale on the website. The source said: ‘Matches continues to sell designer clothes online and has promised to pay for everything. But some brands, such as VB, have insisted on getting the stock back so they can sell it themselves. Not everyone is convinced that Mike Ashley’s organization – and the administrators – will pay up.’
The former Spice Girl and her VB label bosses have demanded the online retailer return all of its summer stock
Luxury womenswear label Cefinn, owned by Samantha Cameron (pictured), feared it would not recoup a huge summer order from the retailer
Various brands have their own arrangements with Matches. In the case of VB, Victoria has ordered her entire collection to be returned – which has been agreed in principle. Smaller labels had to write down their shares and now risk losing sales.
Luxury womenswear label Cefinn, owned by Samantha Cameron, feared it would not recoup a huge summer order from the retailer. The Foreign Secretary’s wife feared financial turmoil after she made huge quantities of Cefinn clothing for Matches and shipped the order without being paid in advance. When the administrators moved in, she was told her clothes were no longer needed and was forced to pay the bill — until VB paved the way for a massive return.
A source said: ‘After VB demanded all its shares back, Cefinn followed suit and pushed for a full return. Matches has agreed this in principle for both labels. Shipments have started, but it is a slow process. It is the mother of all returns.’
There was fear among staff that the closure of Matches would bring Cefinn to the brink of collapse, although the MoS understands that the company now expects to survive.
Cefinn, VB, Matches and Frasers Group declined to comment.