A Burgess Hill Based company has announced 80 redundancies after the appointment of three new administrators.
Icon Live Limited was founded in 2002 and has grown to be a leading fashion accessories concession and wholesale retailer. It serves both major supermarkets and high street stores.
Zelf Hussain, Peter Dickens and Matthew Callaghan of PwC were appointed as joint administrators of Icon Live Limited on September 27, 2016.
In a statement, Icon Live Limited said: “The company was facing severe difficulties meeting its financial obligations as a result of a combination of factors, and having run out of alternative options, sought the protection of administration.
“Unfortunately, there has been 80 redundancies and PwC is making every effort to support these employees.”
Icon Live is based in Burgess Hill, Sussex, and operates both a wholesale and concession model.
According to Icon Live, the business serves more than 3,000 stores across the UK and Europe. In total the company employs over 1,300 staff (454 Full Time Equivalent).
Zelf Hussain, joint administrator at PwC, said: “The administrators are continuing to trade the business for the time being while discussions take place with key customers and suppliers.
“Staff who have been retained will continue to be paid for their work. The company and the administrators are making every effort to help staff at this difficult time.
“The administrators also welcome any approaches to purchase all or part of the operations.”
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