Lingerie retailer La Senza is closing 81 stores throughout Europe and Canada — including more than half of its 146 stores in the United Kingdom — citing poor "trading conditions" as a reason for the closures. The company called in advisors KPMG in December to advise on the possible restructuring of the company.

 

"La Senza continues to work with KPMG to explore all options, including a sale of all or part of the business to safeguard the future of the company and as many of its employees as possible," says a spokesperson for La Senza's private equity owner, Lion Capital. "As part of this process and as a contingency, the company regrettably has had to commence a program of store closures to enable resources to be focused on the best-performing stores in the portfolio. The company can also confirm that it is still not in administration and that administrators have not been appointed."

 

Despite a surge in sales over the Christmas period, La Senza has been unable to thrive in the current economic slump. The retailer said no decision had been taken on when the stores would close, adding that they would continue to trade normally in the meantime.