PH understands the retailer appointed administrators on 9 March, shortly before it was bought in a pre-pack sale by All About Cashmere.
All About Cashmere, also trades as Woolovers, and is a mail order company specialising in clothing for a similar customer demographic to that of Scotts.
Administrator for the retailer, Resolve Advisory, has reportedly written to Scotts of Stow suppliers to inform them that they are now unsecured creditors in respect of money owed. The letter also stated that at present, no payments could be made, but details of debts owed by the company should be forwarded to the administrators.
A further letter from the prior owners of Scotts of Stow stated that the decision to appoint administrators came as ‘after a sustained period of challenging economic conditions, we found ourselves in a situation that we couldn’t recover from on our own’.