Matches CEO Nick Beighton and its CFO Dave Murray are believed to have exited the failed luxury fashion e-trailer following its administration filing.
They were reportedly among the 273 staffers who lost their jobs at the firm last week.
That move followed Teneo being appointed administrator to the business on 7 March, just a few months after Frasers Group bought it from Apax Parters at a knockdown price.
The news was first reported by Drapers. Fashionnetwork.com has been unable to get confirmation from Teneo of the executive exits.
Beighton — the former ASOS chief — joined the firm when it was in need of a turnaround plan and had been CEO since July 2022. He’d been seen as having steadied the ship after a declining performance saw a succession of CEOs joining and leaving the business.
He remains part-time Chairman of fast-expanding off-price e-tailer Secret Sales.
Murray had been senior VP of finance at Farfetch before joining Matches a few months after Beighton arrived.
The news of the Matches administration filing came out of the blue last week with Frasers scathing in its assessment of the business.
It said it “consistently missed its business plan targets and, notwithstanding support from the group, has continued to make material losses. While Matches’ management team has tried to try to find a way to stabilise the business, it has become clear that too much change would be required to restructure it, and the continued funding requirements would be far in excess of amounts that the group considers to be viable”.
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