Elle licence-owner runs out of cash before rent day
Retail group Actif, holders of the licence for the Elle brand in the UK, has gone into administration.

The collapse was the result of the company running out of cash just before quarter-day rents were due. Andrew Pepper of Kroll has been appointed as administrator.

Seymour Pierce analyst Richard Ratner said: '[It's] a great pity, because the new design team, ex-Ted Baker, had made great strides, but it was taking time to come through to sales.'

The group's strategy has been to acquire the clothing rights for brands and develop them for the UK and European markets. It acquired clothing rights to the Elle brand from magazine publisher Hachette Filipacchi Presse in 1996 and also has a revenue stream from agency sales of Ted Baker products.

The company failed to make progress on the short-lived Joe Boxer concessions in Debenhams. Launched in September 2000, they were closed within 18 months.

As of January last year, the group ran 16 stores and 40 concessions across the UK.

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