La Senza will now cease to trade in the UK after its administrators failed to attract a buyer for the UK franchise which Alshaya had acquired via a pre-pack administration deal in 2012. Over 250 staff now face redundancy as the final 22 stores are closed. The 150 Le Senza stores in Canada, as well as 300 or so franchise outlets in other countries are unaffected by the failure of the UK business. It is understood that Middle East group Alshaya expects to rack up £63 million in losses related to La Senza and that unsecured creditors are unlikely to achieve any more than 5 per cent of the sums owed to them.
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