Fox & Co (1868) Limited enters liquidation, with appointment of Kingston Smith & Partners
Ian Defty, Partner at Kingston Smith & Partners LLP, the Corporate Recovery arm of top 20 accountancy firm Kingston Smith LLP, has been appointed Liquidator to gentlemen’s clothing retailer, Fox & Co (1868) Limited.
The original predecessor of Fox & Co (1868) Limited, T Fox & Co, was incorporated in 1868 and has traded throughout from iconic premises well known to City of London workers at London Wall, where it manufactured the world famous Fox & Co umbrellas. It traded as an umbrella shop for well over 110 years and, in 2002, the umbrella manufacturing and retail sides were separated.In 2007, the company was bought out and the shop continued trading as purveyors of fine leather goods, menswear and accessories.
Due to the economic downturn, cheaper foreign imports and the increasing use of the internet to purchase goods, Fox & Co (1868) struggled to compete in the retail market, which ultimately led to the liquidation of the company on 1 July 2011.
Ian Defty commented: “Unfortunately, it is a sign of the times that well established, independent, retailers are suffering, due to the downturn in the retail market and competition with chain stores, which themselves are struggling. Sadly, Fox is not the first and certainly will not be the last independent store to be closing.”