Dragons’ star ‘regrets’ having to appoint liquidator to chain

A liquidator is to be formally appointed to Blacktie — the well-known chain of men’s formalwear shops — at the end of this month, its owner revealed yesterday.

The company’s founder and owner, Dragons’ Den star Niall O’Farrell, issued a statement revealing that he had personally informed all staff members across Blacktie’s 11 shops that a liquidator will be appointed on Friday, Feb 1.

In his statement, Mr O’Farrell — who also owns the Henry Jermyn shirt retailer — said that the decision to appoint liquidators was taken after consultation with the company’s bankers, “due to a combination of market and economic factors; including a decline in the formalwear rental market, increased lower cost retailers from the high street, higher utility and branch operating costs and unaffordable high levels of rates”.