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The company was sold from administration back to Mark
Brafman, its founder, via Jet Star Retail. Bali Singh took over as boss when Brafman left in October, and Singh tried to acquire more funds to allow the business to continue. One of the company's suppliers, which had not been paid, started the
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for £55 million (this included £11 million worth of debts); in
February 2009, Baugur itself entered the equivalent of administration. Les Johnston became chief executive, and Andy Hall became finance director. Johnston and Hall took a 20% stake in the chain, while Baugur, had a 41% shareholding.
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The banks
Landsbanki and Barclays provided debt, taking 36% of MK One. Arev, a consulting firm, took 3%. McPherson and Thompson left the group. Baugur had planned to expand to chain to around 450 stores. In 2007, the company made losses of £17.4 million.
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310:. On 20 November, the 125 store chain entered administration, putting 1,400 jobs at risk. Leonard Curtis said that there had been a number of expressions of interest for the company.
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had also made a failed bid for the company in 1996. In the end of the 1990s, a change to the firm's logo saw the firm's name begin to be commonly spelled as "MK One".
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In July 2003, Green sold most of stake in MK One, whilst keeping 10%, to Elaine McPherson, the managing director, and David
Thompson, the finance director.
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294:, a restructuring specialist. Three weeks later in May, Hilco appointed Deloitte as administrators, to find a buyer for MK One.
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337:, was closed. By May 2009, all MK One stores that were purchased by Internacionale had been rebranded under that firm's name.
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246:, and became a discount womenswear retailer. In February 1996, Mark One was bought from administration by billionaire
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Deloitte continued to act for MK One's original lenders, but was forced to place MK One into administration with
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On 25 November, eighty stores were sold by administrators (Neil
Bennett of Leonard Curtis) to
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The company was founded in the 1980s by Mark
Brafman, Les Lucy and Alan Simons as
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Internacionale company profile, including reference to takeover of MK One stores
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In May 2008, a majority stake in the 170 store company was sold to
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bankruptcy proceedings. Around sixty of the stores were closed.
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In
November 2004, the 177 store MK One chain was bought by the
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505:"Mark One founder sells fashion retailer months after rescue"
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138:
479:"MK One falls into administration weeks after sale"
380:"Baugur to expand MK One chain after £55m purchase"
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286:Sale to Hilco, administration and sale to Brafman
302:Administration and sale to Internacionale Retail
531:"Christmas cancelled at MK One as it collapses"
431:"Baugur sells high street fashion chain MK One"
621:Defunct retail companies of the United Kingdom
477:Hawkes, Steve; Thompson, Susan (2008-05-21).
8:
73:
556:"S Kumars acquires Scottish fashion chain"
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601:Clothing retailers of the United Kingdom
49:of all important aspects of the article.
616:Retail companies disestablished in 2009
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66:For the song by Radiohead, "MK 1", see
354:"Lionheart who just keeps on truckin'"
45:Please consider expanding the lead to
631:Companies based in the City of London
606:British companies established in 1985
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611:Retail companies established in 1985
457:"Invoice worries as MK One is sold"
405:"Hamleys investor seeks protection"
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558:. www.dnaindia.com. 3 June 2008
37:may be too short to adequately
503:Thompson, James (2008-10-28).
47:provide an accessible overview
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213:800 (approx) (2,500 May 2008)
167:(pre Internacionale takeover)
429:Hawkes, Steve (2008-05-02).
378:Mesure, Susie (2004-11-15).
529:Power, Helen (2008-11-21).
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317:. The textiles group from
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455:Lynam, Joe (2008-05-02).
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16:British fashion retailer
238:Beginnings as Mark One
315:Internacionale Retail
202:Internacionale Retail
192:(principally women's)
323:S. Kumars Nationwide
209:Number of employees
161:Number of locations
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582:2009-01-30 at the
250:, future owner of
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32:This article's
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308:Leonard Curtis
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41:the key points
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55:February 2024
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413:. Retrieved
411:. 2009-02-04
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388:. Retrieved
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362:. Retrieved
360:. 2006-02-26
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325:, purchased
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248:Philip Green
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143:Headquarters
122:Mark Brafman
88:Company type
52:
36:
34:lead section
256:Shami Ahmed
174:Area served
68:In Rainbows
595:Categories
541:2009-02-06
515:2009-02-06
489:2009-02-06
463:2009-02-06
459:. BBC News
441:2009-02-06
415:2009-02-06
390:2009-02-06
364:2009-02-06
341:References
535:The Times
483:The Times
435:The Times
271:Icelandic
39:summarize
580:Archived
562:2 August
537:. London
511:. London
485:. London
437:. London
409:BBC News
386:. London
244:Mark One
227:retailer
189:Clothing
185:Products
130:May 2009
98:Industry
333:, west
327:Glasgow
233:History
224:fashion
127:Defunct
119:Founder
111:Founded
102:Fashion
92:Limited
335:London
275:Baugur
273:group
220:MK One
152:London
105:retail
74:MK One
331:Acton
319:India
292:Hilco
198:Owner
148:Acton
564:2017
165:125
154:(HQ)
135:Fate
114:1985
252:BHS
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
