Matchesfashion

Matches has been acquired by the founders of members-only luxury shopping app Mile.

The shuttering of Matchesfashion has left creditors owed a combined total of £49.5m, up from the £31m originally estimated.

Frasers Group has made a £12.5m loss from its acquisition of Matches, which it put into administration earlier this year, the retail giant's latest financial results revealed.

Luxury fashion retailer Matches will shut down its website on 30 June and its two remaining stores in Marylebone and Wimbledon over the coming weeks, three months after owner Frasers Group placed it into administration.

With The Vampire’s Wife shutting down and Roksanda sold in a pre-pack administration, Drapers explores the challenges facing independent British designer labels.

A further 91 Matches employees have been made redundant after Frasers Group acquired certain intellectual property of the collapsed luxury retailer but left its inventory behind, Drapers has learned.