Kate Kuba, the London-based women’s shoe retailer, has gone into administration, the U.K.-equivalent of Chapter 11.
“It was stung by high rents, a sharp downturn and the kind of lack of depth of financial reserve that is sure to hit more small U.K. businesses,” said George Wallace, CEO of MHE Retail Ltd., adding that the company’s Richmond-area store in London had closed earlier in 2008.
The shoe chain, owned by Cos Constantinou, operated eight stores in central London, selling women’s brands including Ugg, Diesel Style Lab and Camper, as well as its own private label.
Among the highly desirable, high-rent locations were a space on Brook Street near Bond Street and the Duke of York Headquarters near Kings Road, as well as a store that recently opened in London’s new Westfield shopping center.
Fisher Partners has been appointed administrator of the chain.