Designer lingerie business forced to close
An upmarket lingerie retailer has been forced to close its shops in Edinburgh and Glasgow after going into administration.
Boudiche opened in Frederick Street, Edinburgh in 2005 before branching out to a second shop in Ingram Street, Glasgow in 2008.
The company had a successful online store, but the shops were hit by the recession and Edinburgh's tram works.
All 13 members of staff have been made redundant with immediate effect.
Directors Claire Thommen and Fiona McLean said the tram works had decreased footfall past the shop by 40%.
Turnover had grown from £68,000 in the first year to nearly £600,000. Online sales rose by 75% in the last year, with demand from over 50 countries.
Joint administrator Tom MacLennan, head of recovery at RSM Tenon in Scotland, said: "Boudiche is a very high profile brand and was a rising star in the quality lingerie market, with the potential for further development, in particular the online business.
"The administration offers an exciting opportunity for an entrepreneur to acquire the brand and assets and develop the business.
"We would urge interested parties to make contact with us as soon as possible."
Ms Thommen said: "It is with deep regret that we have placed Boudiche into administration.
"Despite our best efforts and an extensive search for funding we were unable to secure the investment required to continue. We will continue to seek investment and hope to buy back the brand."