with news that the company had £53 million worth of unsold stock when it collapsed.

That figure was reported by The Telegraph. But that number is also an opportunity for potential buyers. The news came from the administrators of the ready-to-wear-to-couture label as they continue to seek new owners for the brand.

Hilco is marketing the company as a business that offers “an immediate commercialisation opportunity” for a buyer as the bid deadline approaches next week. It’s clear that the label has a stock position from which any new owner can make a strong start. And it has a store estate ready to sell as well. The company has 10 stores including a concession in Harrods. Hilco also said its intellectual property and franchise and licensing deals that make up just below a quarter of its revenues are important.

Ralph & Russo had been riding high just a few years ago and had received funding in recent years from Phones 4U billionaire John Caudwell, property tycoon Nick Candy and, crucially, La Perla owner Lars Windhorst. He bought a minority stake in 2019 for around £40 million that valued the company at around £175 million.

Hilco expects plenty of interest in the sale with wealthy family operations in the Middle East, where the label has a strong client base, possibly among the frontrunners.