Job cuts at Karen Millen after Coast buy

By

Barbara Santamaria

Published
Oct 26, 2018

100 head office staff at Karen Millen face redundancy as the womenswear company launches a review to restructure roles and responsibilities following its acquisition of Coast.

A spokesperson said the business is undertaking a careful review with the goal of ensuring the company is well positioned for future growth, Retail Week reported.

Karen Millen employs over 2,300 people across its head office, stores and concessions, however the exact number of people working at its headquarters is not known.

The company, owned by Kaupthing Bank, bought parts of womenswear rival Coast out of administration in October for an undisclosed sum. The deal saved the brand’s website and UK department store concessions, but its 24 stores and European concessions were not included in the transaction and are set to close down with the loss of 300 jobs.

However, 600 jobs from the Coast business were saved and will join the Karen Millen business.

“As is the case following any acquisition, it has been necessary for Karen Millen to undertake a careful review in order to rationalise and, in some cases, restructure roles and responsibilities, to ensure the business is positioned well for future growth. A full consultation process is under way and our priority is to work closely with and support staff throughout this,” a spokeswoman said.