Debt owned by the preferred individual of Princess of Wales amounts to a vast sum, akin to a monarch's ransom.
Seraphine Maternity Fashion Retailer Rescued by FTSE 100 Giant Next
Seraphine, a popular maternity fashion retailer known for outfitting the Princess of Wales during her pregnancies, was rescued from administration in 2025 by FTSE 100 retail giant Next.
The company's financial struggles became apparent when it entered administration in 2023, owing approximately £20 million to its creditors. This estimate aligns with the company's forecasted turnover drop to £19 million in that year, indicating significant financial distress preceding its administration.
During the administration process, it was revealed that Seraphine's secured creditor, HSBC UK, was owed around £6.1 million. Interpath, the consultancy firm overseeing the administration, stated that it is likely that the bank will recover at least some of its money, but unsecured creditors are unlikely to be paid, with an estimated deficiency of £28.3 million.
The retailer, which was founded in 2002, ceased trading and made the majority of its 95-strong staff redundant. However, the brand and intellectual property of Seraphine were acquired by Next for £600,000, marking the closure of its insolvency period and a new chapter for the brand.
The sale process involved contacting 238 parties, including 56 trade buyers and 182 financial investors, during which Next emerged as the successful bidder. Cecile Reinaud, the founder of Seraphine, was brought back as an adviser in the deal.
Notably, Seraphine has dressed a number of high-profile women, including Halle Berry, Kate Hudson, Angelina Jolie, Katherine Jenkins, and Kate Winslet. The company listed on the London Stock Exchange in 2021 with a market valuation of over £150 million before its collapse into administration.
The rescue of Seraphine by Next is a testament to the enduring appeal of the brand and its potential for growth, despite the challenges faced in recent years.
The rescue of Seraphine by FTSE 100 retail giant Next signifies a transition from the retail industry to finance, as the acquisition of the maternity fashion retailer's brand and intellectual property was funded by finance investors. Additionally, the survival of Seraphine, once a thriving business with a high-profile clientele, highlights the potential for growth within the retail sector, even amidst financial distress.
