Major UK fashion retail plunges into administration - in business since 2005

Major UK fashion retail plunges into administration - in business since 2005The London-based brand has been worn by stars including Rihanna, Jay-Z, Stormzy and Central Cee. Share Article Share Article Facebook X LinkedIn Reddit Bluesky Email Copy Link Link copied Bookmark Add us as preferred source Comments By Catherine Mackinlay, News Reporter 22:34, Mon, Jun 1, 2026 Updated: 22:36, Mon, Jun 1, 2026 Trapstar founders Mikey and Will at the brand's New York launch in 2015 (Image: Getty)A major British fashion brand has plunged into administration after a failed attempt to secure fresh financial backing. Trapstar, the London-based streetwear label worn by stars including Rihanna, Jay-Z, Stormzy and Central Cee, appointed administrators from Interpath Advisory following a two-month effort to find new investment. window.scriptsToLoad.push({url:'https://live.primis.tech/live/liveView.php?s=118222&vp_content=plembed3a6btjknzwqh&cbuster=%%CACHEBUSTER%%&playerApiId=v118222',triggeredBy:'tcfLoaded',delay:1500,containerId:'ovp-primis',title:"Primis player",beforeLoad:()=>{window.top.addEventListener('primisPlayerInit',e=>{try{if(e.detail&&e.detail.playerApiId==="v118222"){if(window.document.getElementsByClassName('jwplayer')[0]){e.detail.float('disable')}}}catch(e){}})},}) Founded in 2005 by friends Mikey, Lee and Will, the company grew from humble beginnings selling clothing at Portobello Market in London to become one of Britain's best-known streetwear brands. The label gained a loyal following through its limited-edition "drop" model, releasing exclusive products at short notice, and became a prominent name within the UK's grime and rap scene. Its popularity soared during the Covid pandemic, with demand for hoodies, tracksuits and other casual wear helping revenues reach £40 million in 2022. However, the business has since suffered a dramatic downturn. Turnover fell to £17.7 million in 2024, representing a 55 per cent decline in just two years. Article continues below...