Clothing manufacturer Le Col has entered administration following months of financial uncertainty.
road.cc has seen emails sent to clients owed money by the business detailing the appointment of administrators last week. The administrators, from FRP Advisory Group, specialise in corporate restructuring, with one an expert in businesses in “distress.”
In February Le Col were sold to American sports equipment manufacturer Head, which specialises in racket and winter sports. At the time of the takeover, it was announced that the business would be run from Milan, rather than London where the business was based and where clothing was designed. Founder, former professional racer Yanto Barker, resigned as a company director in October last year.
Two days after the administrators were appointed, Le Col filed to change its name with Companies House, to Cadence (2026) Number 2 Ltd. Such name changes enable administrators to sell or re-use the original company name, and any potential trademarks owned.
It is unclear whether administration is the first step towards the company liquidating, or if the administration will enable Head to restructure the business without its debts. Days after taking over the business, a loan agreement was registered with Head as a parent company acting as a lender to Le Col.
The loan contained both fixed and floating charges covering “all the property and undertaking of the company.” Following the loan agreement, Stefano Pariani, an Italian business executive, was appointed to Le Col’s board of directors. Since 25th May he has been the only person on the company board.
Prior to being taken over, the brand was owned by private equity firm Puma Growth Partners. At the time of Le Col’s acquisition by Head, Puma Growth’s managing director was quoted as saying, “We are pleased to have exited Le Col to such a strong counterparty and believe HEAD will be a superb custodian of the Le Col brand going forward.”
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Le Col had recorded £12 million in losses over three years following the coronavirus pandemic. The company also became the title sponsor of a professional cycling team, Le Col-Wahoo, in 2022 – coinciding with the inaugural Tour de France Femmes. However, the brand withdrew their title sponsorship of the team at the end of the year.
The company had also attracted criticism after shareholders who took part in a crowdfunding initiative in 2017 were told without consultation that their shares were being sold for “nominal consideration.”
road.cc has contacted Head Group for comment.
1 thought on “Le Col enters administration months after takeover by tennis giant Head”
I’m pretty sure this isn’t news.
Anyway, It’s not surprising given that the only way they could shift their kit is through heavy discounting of their fake RRP’s with Strava challenges.