> ## Content Index > Fetch the complete content index at: https://entrepreneurplus.co.uk/llms.txt > Use this file to discover other available public pages before exploring further. # Matchesfashion - URL: https://entrepreneurplus.co.uk/graveyard/matchesfashion/ - Published: 2026-10-21T11:10:06.000Z - Updated: 2026-10-21T11:29:51.000Z - Description: Luxury fashion e-tailer; Frasers put it into administration weeks after buying it, IP later bought back, Mar 2024 - Author: Editorial Desk - Tags: #ep-grave ✝ Startup · Administration · 8 March 2024 Luxury fashion e-tailer; Frasers put it into administration weeks after buying it, IP later bought back, Mar 2024 Companies House [02717838](https://find-and-update.company-information.service.gov.uk/company/02717838?ref=entrepreneurplus.co.uk) · In Administration How it ended Administration Ended 8 March 2024 Founded 1987 Sector E-commerce & Retail Based in London Funding raised Undisclosed Backed by Apax Partners, Frasers Group Last known website [matchesfashion.com](https://www.matchesfashion.com/?ref=entrepreneurplus.co.uk) Last checked 21 October 2026 ## What happened Matchesfashion grew from a single Wimbledon boutique opened by Tom and Ruth Chapman into a global luxury e-commerce retailer stocking Burberry, Gucci and Prada, and was sold to Apax Partners in 2017 at a reported valuation of around £800m. Losses deepened under a succession of chief executives, Apax injected a further £60m in January 2023, and in December 2023 Frasers Group bought the business for about £52m. On 8 March 2024, three months later, the directors appointed Julian Heathcote and Benjamin Dymant of Teneo as administrators, Frasers saying the business had consistently missed its targets and continued to make material losses. Teneo made 273 head-office staff redundant the next day, and the chief executive and finance chief left. In April 2024 Frasers bought certain intellectual property out of the administration, excluding stock and staff. ## Why - Demand fell away - Macro / market conditions ## What happened to the assets, customers and team Frasers Group acquired certain Matches intellectual property from the administrators in April 2024, with no stock or employees transferring; Teneo was licensed to sell the remaining stock for the administration. More than 500 unsecured creditors, including Burberry, Gucci and Prada, were owed about £36m and were told recovery would be very low. The company remained in administration as of October 2026. ## In their words > Matchesfashion has experienced a sharp decline in demand over the last year > > Benji Dymant, joint administrator, Teneo · [source](https://fashionunited.uk/news/business/matches-reportedly-cuts-273-jobs-following-teneo-appointment/2024031174537?ref=entrepreneurplus.co.uk) > It's their choice as shareholders, but it wasn't necessary, in my opinion. > > Nick Beighton, former chief executive, Matchesfashion · [source](https://www.theindustry.fashion/former-matches-boss-says-entering-business-into-administration-was-unnecessary/?ref=entrepreneurplus.co.uk) ## Lessons A buyer can use administration to keep a brand and shed its liabilities, which is what Frasers did within three months of acquiring Matches. The administrators pointed to weak luxury demand under high inflation and interest rates; the former chief executive argued the business could have been turned around. Suppliers who extended credit on a new owner's name were left with little. ## Sources 1. [find-and-update.company-information.service.gov.uk](https://find-and-update.company-information.service.gov.uk/company/02717838?ref=entrepreneurplus.co.uk) 2. [thegazette.co.uk](https://www.thegazette.co.uk/notice/4575462?ref=entrepreneurplus.co.uk) 3. [fashionunited.uk](https://fashionunited.uk/news/business/matches-reportedly-cuts-273-jobs-following-teneo-appointment/2024031174537?ref=entrepreneurplus.co.uk) 4. [cityam.com](https://www.cityam.com/frasers-acquires-parts-of-matchesfashion-out-of-administration-but-jobs-wont-be-saved/?ref=entrepreneurplus.co.uk) 5. [theindustry.fashion](https://www.theindustry.fashion/former-matches-boss-says-entering-business-into-administration-was-unnecessary/?ref=entrepreneurplus.co.uk) 6. [retailgazette.co.uk](https://www.retailgazette.co.uk/blog/2025/04/matchesfashion-debts-50m/?ref=entrepreneurplus.co.uk) ✓ Verified by EP+ Every Graveyard entry is checked against Companies House and the sources above, and re-checked periodically. Spotted an error or a company that has been rescued? [Tell us](mailto:info@entrepreneurplus.co.uk?subject=Graveyard%20correction%3A%20Matchesfashion). [← The Graveyard](https://entrepreneurplus.co.uk/graveyard/)