Kelso's Nicole Farhi goes under

Restructuring firm Zolfo Cooper has been appointed as an adviser to the firm and intends to find a buyer for the asset.

"The decline in high street spend coupled with rising costs has led to increased financial pressures on the business," said Peter Saville, a partner at Zolfo Cooper.

Kelso Place Asset Management acquired a majority stake in the fashion brand from OpenGate Capital in 2012, with a commitment to invest £15m over five years.

The vendor retained a minority stake in the firm, which it bought from French Connection in 2010 for £5m. 

Trading will continue throughout negotiations with interested parties. 

Nicole Farhi was founded in 1982 and retails through department stores and boutiques worldwide. 

The firm employs 114 staff across its retail network and London-based head office. 

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