The encyclopedia · Finance & Accounting · Financial decision · 2026
Gandys hits administration — a charity-linked brand undone by a sudden funding withdrawal
The flip-flop brand founded by the Forkan brothers after the 2004 tsunami filed to appoint administrators in March 2026 after funding was suddenly pulled
Gandys · 2026-03
What happened
Gandys is a British flip-flop and lifestyle brand founded in 2012 by brothers Rob and Paul Forkan, who survived the 2004 Boxing Day tsunami in Thailand that killed their parents. They started the company with less than £10,000 of capital and pledged 10% of every sale to fund children's education projects in Ghana, Kenya and Bali. In 2014 they opened their first kids campus in Sri Lanka in memory of their parents.
By 2026 the brand traded from a single standalone store in Covent Garden, London, opened in October 2024, plus its ecommerce site, and employed 15 people as of 2025. It was B Corp certified. On 25 March 2026 Gandys filed a notice of intention to appoint administrators at the Companies Court, with Ellisons Solicitors acting for the applicant.
The filing followed a sudden withdrawal of funding, according to Drapers. The company immediately launched a closing-down sale on its website offering up to 75% off across all products. The case was still active in April 2026, with Drapers noting it had contacted Gandys and Ellisons for comment.
Why it happened
- A sudden withdrawal of funding left the business without the cash to continue trading
- The brand's purpose-driven model leaned on a single standalone store and an ecommerce site, leaving little resilience when finance was pulled
- The charity pledge and B Corp status built goodwill but could not replace the withdrawn capital
- A closing-down sale was the only lever left once administration was unavoidable
The lesson
A purpose and a headline mission attract loyalty but not balance-sheet strength — a brand that depends on a single funding line can be brought down overnight when that line is pulled
Aftermath
Gandys filed a notice of intention to appoint administrators at the Companies Court on 25 March 2026 after a sudden withdrawal of funding, and launched a closing-down sale of up to 75% off. The case was active as of April 2026, with Drapers reporting it had approached the company and Ellisons Solicitors for comment. The brand's 15 employees and single Covent Garden store were exposed to the administration.
Sources
- Drapers — Gandys falls into administration
- Metro — UK clothing brand files for administration and launches closing-down sale
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