Ralph Russo cofounder in legal battle with administrators
Image: Ralph Russo Facebook page Ralph Russo may have exited administration last week after being sold to the owner of Dressbarn, but, now, the lawyers need to be called in for something else. The administrators who handled the sale of the Ralph Russo to Retail Ecommerce Ventures, have filed suit against Tamara Ralph, one of the companys cofounders, seeking damages of 20.8 million pounds. The suit was filed in Englands High Court. Paul Appleton of Begbies Traynor Group, one of the brands two joint adminstrators, and his lawyer, Daniel Morrison, have said Tamara Ralph siphoned money from the company, engaged in financial mismanagement, and breached contract by attempting to set up a competing business. Ralph has already denied the claims. Appleton also took the opportunity to point out that Ralph Russos financial problems began before COVID-19 and the directors of the company engaged in practices that stripped the companys cash reserves and left them without working capital to pay their bills.
Ralph Russo cofounder in legal battle with administrators
Image: Ralph Russo Facebook page Ralph Russo may have exited administration last week after being sold to the owner of Dressbarn, but, now, the lawyers need to be called in for something else. The administrators who handled the sale of the Ralph Russo to Retail Ecommerce Ventures, have filed suit against Tamara Ralph, one of the companys cofounders, seeking damages of 20.8 million pounds. The suit was filed in Englands High Court. Paul Appleton of Begbies Traynor Group, one of the brands two joint adminstrators, and his lawyer, Daniel Morrison, have said Tamara Ralph siphoned money from the company, engaged in financial mismanagement, and breached contract by attempting to set up a competing business. Ralph has already denied the claims. Appleton also took the opportunity to point out that Ralph Russos financial problems began before COVID-19 and the directors of the company engaged in practices that stripped the companys cash reserves and left them without working capital to pay their bills.