By Emily Prescott for The Mail On Sunday
01:05 April 14, 2024, updated 01:10 April 14, 2024
Victoria Beckham has been called the 'mother of comebacks' after the collapse of fashion group Matches.
The former Spice Girl and bosses at her VB label demanded that the online retailer return all the summer stock it sent to her in March, only to learn days later that the company had failed.
A VB source says she has been working with Mike Ashley's Frasers Group, which bought Matches last December, to get her clothes back because she fears the company, which is now in administration, may not pay her.
There are currently 68 VB fonts for sale on the site. “Matches continues to sell designer clothes online and has promised to pay for them in full,” the source said. But some brands, like VB, insisted on taking back stock so they could sell it themselves. Not everyone is convinced that Mike Ashley's team – and administrators – will pay the sum.
Different brands have their own arrangements with matches. In the case of VB, Victoria ordered the return of its entire collection – which was agreed in principle. Small labels have been forced to write off their shares and are now facing the loss of their business.
Luxury womenswear brand Cefinn, owned by Samantha Cameron, was concerned it would not be able to retrieve a huge summer order placed by the retailer. The Secretary of State's wife fears financial turmoil after she manufactured huge quantities of Cefinn's match clothes and shipped the order without paying her up front. When officials moved in, she was told her clothes were no longer needed, and she had to foot the bill — until VB paved the way for a huge comeback.
A source said: “After VB demanded the return of all its shares, Cefinn followed suit and insisted on a full return. Matches has agreed to do this, in principle, for both brands. Shipments have begun, but it is a slow process. It is the mother of all returns.
There have been fears among employees that closing matches could push Cefinn to the brink of collapse, although the Civil Service understands the company now expects to survive.
Cefinn, VB, Matches and Frasers Group declined to comment.
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