The former owner of online fashion brand In The Style is to bypass its shareholders and enter compulsory liquidation.
Itsarm plc, the business left behind after the sale of the Salford business in March, said there is a "significant risk "that creditors of the company would "suffer detriment" if the company was not placed into a formal insolvency procedure immediately.
The move comes after the company failed to secure the backing of its shareholders to de-list from the London Stock Exchange's AIM and enter liquidation last month.
