OMG! Nicole Farhi is in ADMINISTRATION

Welcome folks to my first blog post about fashion. Now take note, this will be a gradual process. So stay tuned as I have a few ideas up my sleeve…

Anyways, back to the fashion mayday of today. What’s happening?! First it was designer duo Kings Dolce & Gabbana facing imprisonment for tax evasion, now Cosmopolitan & MyDaily have tweeted the sad fashion news that fashion House Nicole Farhi are going to the doom-destination of administration.

The upper end luxury high street chain has used all of it’s financial resources to bankruptcy; threatening the jobs of 120 staff. Many people blame the rise of online retail (i.e e-retail) and the government’s business rates system agenda that is affecting the British high streets

Ever since the recession in 2007, we’ve seen the rising costs of living, no growth, rise of youth unemployment,  revolts from EU countries a double-deep recession…

The effect of the financial collapse is beginning to have it’s mark on a industry adorned with the glitz & glamour of glossy fashion bibles, supermodels and A-list celebrities. Many of us thought that the fashion world was immune to the devastating world outside of the fashion catwalks and luxurious events. Shame that we’ve been taken out of dreamworld back to reality.

…take me back to the happy place.

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