Buyout saves 22 jobs at Meadowhall lingerie shop

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More than 20 jobs have been saved at lingerie group La Senza’s Meadowhall store.

The store is one of 60 acquired by Kuwait-based international retail franchise operator Alshaya, saving a total of 1,100 jobs in the UK.

News of the deal came after Richard Fleming, David Standish and Rob Croxen, from accountancy firm KPMG, were appointed joint administrators of La Senza.

Mr Fleming, KPMG’s UK head of restructuring, said: “We are delighted we have been able to rescue part of La Senza UK and such a large number of jobs, given the negative economic pressures faced by retailers in the UK.

“Alshaya is a leading international retail operator with long-standing links with the UK as the international franchise partner of a string of high street brands.

“This deal recognises the value of La Senza as a strong and popular high street brand with a loyal customer base.”

Mohammed Alshaya, executive chairman of Alshaya Group, said: “We are delighted to have reached agreement to buy these La Senza stores - saving jobs, protecting a great brand for consumers and strengthening our UK presence and links.

“This is a strategic investment for us and a positive addition to our extensive international retail portfolio.

“This is the first step in a long-term commitment to developing the La Senza UK business.”

La Senza’s Meadowhall store employs 22 people.

Jobs have also been saved after alternative clothing and accessories firm Blue Banana announced it was to keep its Sheffield store open.

Seven positions were set to be axed after the firm announced it was closing its Orchard Square store - and others in Doncaster, Hull and Lincoln due to ‘increasing costs and a variety of other issues’.

A spokesman said: “A tireless effort has meant we can keep the Sheffield store open.”