Matalan News Update: Daughter of Matalan Founder Saves Farhi
Farhi Saved by Matalan Heiress
Matalan News Update: Daughter of Matalan founder saves Farhi. Maxine Hargreaves- Adam, daughter of Matalan founder John Hargreaves rescues the Farhi brand.
The daughter of John Hargreaves has plucked the failed Farhi brand that retails in the luxury category from administration at the eleventh hour. The Farhi brand has been sold in Matalan’s many UK stores.
Farhi was founded by the boss of French Connection Stephen Marks and his ex wife Nicole Farhi in 1982 but after suffering cash flow and trading lows the administrator. Zolfo Cooper. was called in to wind up the business.
Coming to the rescue of Farhi, Maxine Hargreaves-Adams said that the brand was iconic and a well-known and well loved brand with its roots in Britain. Although Farhi was snapped up for a knock down price the exact amount paid has not been disclosed. This is not the first acquisition by Maxine Hargreaves-Adams who has already bought Fenn Wright Manson that was languishing in administration last year. She has also made further investment in another fashion brand, Damsel in a Dress.
Although she is independently wealthy Hargreaves-Adams comes with an impressive CV having worked in the family firm for fifteen years to include a spell in the role of fashion director. Since that time she has left the business to concentrate on building brands and expanding her own career. She is a well known in the elite of society and has been a guest at parties for the likes of pop star Elton John and she is also a friend of Prince Andrew.
And Maxine is not the only member of the family to be getting involved with business. Her younger brother Jason took over at Matalan from former CEO Darren Blackhurst this year and although some eyebrows were raised at the time, it has to be remembered that Jason Hargreaves has been working at the huge retailer since he was a boy of eight and has grown up in the retail business. He has also occupied several senior positions in the years running up to his latest appointment.
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Another one of the Hargreaves family younger brother Jamey has also been making his mark and made investment in the luxury clothing label Julie MacDonald in 2007. Although he resigned from his position of Director with the brand in 2007 he remains a strong investor and his father, the patriarch of the illustrious retailing dynasty, John Hargreaves, also owns the Wolsey clothing brand.
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