A little more than a year after the bankruptcy, the challenges triggered by the collapse of matches last. According to new documents, which were submitted by the insolvency administrators: the company’s inside, the debt towards creditors: Inside of the former luxury e commerce company, around 49.5 million British pounds (around 57.80 million euros) are now significantly more estimated than originally estimated.
According to the documents submitted by insolvency administrator Teneo at the British Companies House, around 956 claims from creditors: inside, including many former suppliers: inside and cooperating fashion labels were registered. This lies the number of creditors: interior claims higher than initially stated. The unsecured debts have increased by 62 percent compared to the amount of £ 31 million, originally mentioned in the asset lineup (statement of affairs, soa).
Teneo said the increase was due to demands that were “significantly higher” than initially assumed. In addition, around 200 additional claims were not included in the original SOA. At the time of the publication of the report, 13.8 million British pounds had already been paid out. The remaining creditors: Inside, up to 600,000 British pounds are expected to receive a total of up to 600,000.
Matches’ collapse last year had shaken the fashion world and raised new questions about the state of luxury e-commerce. The bankruptcy took place shortly after the company was taken over by the Frasers Group for £ 52 million in December 2023 – a prize that was significantly below the purchase value by the previous owner Apax. After the appointment of Teneo in March 2024, Frasers acquired certain assets of the intellectual property of matches.
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