North East ecommerce agency Venture Stream has saved Tyneside online women’s clothing brand Lily Ella from liquidation.
Venture Stream, which shot to national fame last year when it shared the results of its four-day-week trial on BBC One’s The One Show, has acquired the business and assets of the popular fashion brand, which entered administration in August after 10 years in business with the loss of all seven jobs at the company.
The new owners now say they plan to create multiple job opportunities with the company as it scales, while consumers might like to note that the brand is back open for business under the new ownership – the brand’s Twitter profile proudly proclaims “Back & brand new – Lily Ella is back under new ownership.”
Andy Robinson, chief operating officer at Venture Stream, said: “We worked with the previous team at Lily Ella for many years and, alongside thousands of loyal customers, we were sad to see it fall into liquidation.
“Thankfully, with help and advice from Mincoffs and our team of ecommerce experts, we were able to quickly secure a deal to purchase the business and bring the brand back to life.”
Daniel Bell, associate solicitor in Mincoffs’ corporate team, which advised Venture Stream on the transaction, added: “Lily Ella has been trading since 2014 and has a solid customer base, so it provides a great opportunity for the Venture Stream team to breathe new life into the business.”
