Nicole Farhi saved

Praises to Matalan heiress

In all the excitement of the royal birth yesterday, another joyful piece of news was under-reported: Nicole Farhi has been saved from administration.

Earlier this month, the fashion house admitted to falling into financial pressures due to an overall decline in sales. Although rumours of ‘interested parties’ were buzzing around, things were looking pretty gloomy for once all-powerful British brand.

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As for the saviour who has prevented the world from being Farhi-free? Step forward the daughter of Matalan founder John Hargreaves, Maxine Hargreaves-Evans, who has form – she saved womenswear label Fenn Wright Manson in similar circumstances last year.

Hargreaves approves.

'I am delighted to announce that we have been able to acquire Nicole Farhi,' he told Retail-Week.com, hailing it as an 'iconic and much-loved' label.

It’s yet to be confirmed whether the label’s creative director, Joanna Skyes, who was recruited from Aquascutum last year, will stay on. Watch this space.

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