FTS Recovery Announces Rescue of Fashion Brand In The Style Fashion Limited

Online fashion brand In The Style has been rescued from administration following the successful sale of the business to Alps Sourcing Limited, saving 87 jobs in the UK.

The pre pack sale of the company was negotiated by Marco Piacquadio​ and Alan Coleman of leading boutique insolvency firm FTS Recovery Limited, who were appointed as administrators on 10 March 2025.

In The Style specialises in providing celebrity-inspired fashion at high street prices. The Manchester-based brand’s success has been well documented, as it grew from a small home-based business to reach a value of £105 million at its peak in March 2021 and following AIM listing. However, following that success led a period of troubled times, ultimately leading to the Company being de-listed and then subsequently acquired by Baaj Capital in 2023, when it narrowly avoided administration. Baaj has rolled its facility into the purchasing entity, as a part of the transaction.

In recent times, matters have not improved and with rising costs and various economic headwinds playing their part, formal insolvency proceedings were initiated.

Marco Piacquadio, Director FTS Recovery, said: “The Company’s balance sheet has been laden with significant debt for some time. That debt has led to issues with cash flow and had an impact on suppliers.  Since being brought in to help, our focus has been to seek to rescue as many elements of the business as possible. It is always difficult trying to achieve a rescue against the backdrop of a relatively high-profile matter, particularly where elements of the brand and goodwill are under daily scrutiny. We are really pleased to have secured this outcome and to have rescued so many jobs. It is hoped that this rescue will allow the new owners the platform to work again with key stakeholders in the future. This sale marks a turning point in the company’s fortunes and an opportunity to return it to a position of profitability and financial stability.

Finally, thanks to our respective legal teams and wider advisers involved on the transaction. The marketing process was led by Gary Haper and his team from John Pye Auctioneers & Valuers, with legal advice provided by Anna Shaw and Steve Thomas and their team at Excello Law.”

ENDS

Press contact for FTS:

Gill Sainsbury: 07949 070 989 / Gill@gillsainsburypr.com

NOTES TO EDITORS:

1. FTS Recovery is a national firm of licensed Insolvency Practitioners, with offices and staff covering the entire UK.
2. FTS offers a complete range of corporate and personal insolvency solutions, including business rescue, recovery, and closure.
3. FTS is an owner-managed boutique brand, founded by Directors from the UK’s largest insolvency firms.
4. The team has a proven track record of assisting a variety of stakeholders which include directors, shareholders, employees, lenders, charge holders, Private Equity (PE), Venture Capital (VC) and Family Office contacts. Recent restructuring appointments in the sector include Rectella Limited T/a Julian Charles, Christopher Kane, Roksanda and Julien Macdonald.
5. For more information, visit or contact Marco Piacquadio, Director of FTS Recovery on: marco.piacquadio@ftsrecovery.co.uk