Firm linked to fashion label closes with debts of €1m

ONE of the main backers of high-profile fashion designer Deborah Veale has gone into liquidation, with the firm believed to owe creditors up to €1 million.

The Irish Examiner has learned that the OTIF clothes store chain went into liquidation late last week due to mounting debts which it is struggling to pay off.

While the designer’s label continues to operate, OTIF — which has been in operation for almost a decade — was forced to make the “unavoidable” decision to cease trading due to the “current economic climate”.