Fancy dress retailer Smiffy's gains new owner after falling into administration
A YORKSHIRE-based fancy dress retailer which dates from the 19th century has gained a new owner after falling into administration.
Jane Steer and Sarah O'Toole of PwC were appointed as joint administrators of R.H. Smith & Sons (Wigmakers) Limited which trades as Smiffy’s.
In a statement, PwC said: “On appointment, the joint administrators completed a sale of the business and assets of the Company to Ad Populum LLC.
“Smiffy’s is a much-loved fancy dress retailer that has been operating for over 100 years,’’ the statement added.
"It is headquartered in Leeds and has stores in Leeds, Liverpool, Newcastle and Oxford.
"The financial performance of the company was significantly impacted by the Covid-19 pandemic which saw a huge drop in demand for costume and party products.”
“The buyer owns several brands, such as NECA, an industry leader in pop culture action figures and collectibles, Wizkids, a producer of miniatures and award-winning table top games worldwide, Kidrobot, a premier creator of limited-edition art toys and lifestyle accessories, and Rubies II, a US costumes company.”
Ms Steer, the joint administrator and partner, at PwC, said: “Smiffy’s is a popular brand that has been operating in one form or another since 1894, but sadly, like many other retailers, it was impacted by the after effects of the pandemic.
"The buyers, Ad Populum, will add Smiffy’s to their comprehensive range of brands.”