Wednesday, August 26, 1998 Published at 13:02 GMT 14:02 UK
Business: The Company File
Yardley faces collapse
Yardley's is the Queen Mother's favourite
One of the most famous British names in cosmetics and perfumes has called in receivers.
Yardley, which has Royal warrants to its name, is to be run by receivers from accountant KPMG while they seek a buyer.
It employs some 300 people.
The crisis comes as the company, founded in 1770, tries to shake off its old fashioned image and trying to reinvent itself.
Last year, the group changed its advertising model from actress Helena Bonham Carter to supermodel Linda Evangelista.
One of the new adverts showed Ms Evangelista shackled in chains and handcuffs.
Administrator Tony Thompson said: "Our first priority as receivers is to quickly take control of Yardley's businesses and its assets.
Mr Thompson said the company had recently been unable to fully develop its brands because of cash shortages.
He said a number of potential buyers had already been identified in the UK and overseas.
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