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The encyclopedia · Finance & Accounting · Financial decision · 2026

Gossard, the 1901 lingerie house that brought Wonderbra to the UK, went into liquidation

Gossard Limited, founded 1901, entered creditors' voluntary liquidation on 14 May 2026 with a £2.8M shortfall; all its UK staff were made redundant.

Gossard Limited · 2026-05-14

What happened

Gossard is one of the older names in British lingerie: established in 1901 and based in Nottingham, it is remembered above all for bringing the Wonderbra to the UK in the 1960s. It operated from the Courtaulds Building on Haydn Road in Sherwood, Nottingham, carrying a name that had survived well over a century.

On 14 May 2026 Gossard Limited entered creditors' voluntary liquidation — not administration — with insolvency practitioners from CFS Restructuring LLP appointed as liquidators and UK trading ceasing. All of the company's UK staff were laid off after the decision to shut down operations, and the remaining stock was disposed of by the liquidators.

The scale of the shortfall is laid out in the creditors' report: an overall shortfall of £2,813,604, owed to 25 suppliers (£2,482,763), HMRC (£346,191) and three former members of staff (£77,910). The appointment related solely to the UK entity; Gossard's European operations and affiliated entities outside the UK continue to operate as normal and are not subject to the proceedings.

Two sister companies in the same Nottingham building went the same way the same day: Embody (Brands) Limited and Pretty Polly Limited also entered liquidation on 14 May. A 125-year-old brand, a household name in British underwear, was wound up in a single decision while the rest of the group carried on.

Why it happened

  • A century-plus of brand heritage did not protect the UK entity: by May 2026 its liabilities exceeded its assets by £2,813,604.
  • The creditors' voluntary liquidation was a winding-up decision, not a rescue: staff were made redundant and stock sold off rather than the business being kept trading.
  • The pain fell on 25 suppliers owed £2,482,763 and HMRC owed £346,191, with three former staff among the unsecured creditors.
  • The failure was contained to Gossard Limited: the brand's European operations and sister companies continued, so the name survived while the UK company did not.
What it cost£2,813,604 shortfall; all UK staff redundantcostly

The lesson

Brand heritage does not pay creditors. A 1901 name and the Wonderbra legacy did not stop Gossard's liquidation, a £2.8M shortfall, while its European operations kept trading.

Aftermath

CFS Restructuring LLP wound up Gossard Limited, selling off stock to recover what it could for the 25 suppliers and HMRC. The liquidation was confined to the UK legal entity: Gossard's European operations and non-UK affiliates continued trading normally, and the sister companies Embody (Brands) Limited and Pretty Polly Limited were liquidated the same day from the same Nottingham building.

Sources

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