A bidding war is set to break out for Meghan Markle’s dressmaker Ralph & Russo amid ‘intense’ interest from fashion houses and the super-rich, the firm appointed to find a buyer has said.
Ralph & Russo, which counts Beyonce and Gwyneth Paltrow amongst its fans, fell into administration last month after sales collapsed when balls and weddings were cancelled.
Interest: Ralph & Russo fell into administration after sales collapsed when balls and weddings were cancelled
Hilco yesterday said that final offers must be received by April 14, but warned that it may accept an earlier ‘exceptional’ offer.
Private equity houses and sovereign wealth funds are also said to be in the hunt.
The brand, founded in 2010, found fame when the Duchess of Sussex wore a £56,000 sheer long-sleeved gown in her engagement pictures but it was beset by claims of financial mismanagement.
It made a £14.8million loss in the year to March 2019.
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