Napoleon Perdis, whose beauty brand entered voluntary administration last week, has opened up about the emotional toll the process has taken on him.
While he remains positive about the future of the business which bears his name, he told Your Money Live that it has been tough.
“I feel a bit lonely because my family are not with me [but] I actually think that’s a good thing. I wouldn’t want my children going through this,” Perdis said.
“When it’s time for me to discuss it with my children I will tell them my lessons. No one is without mistake, no one is perfect, we are all mortals. I will tell them what their father had to go through and actually so publicly. There’s a lot of CEOs that just hide but I haven’t done that,” he added.
“I don’t feel ashamed. I feel sad.”
Comparing it to watching his own nineteen-year-old daughter grow up, Perdis thought that administration was about learning to relinquish some control.
“Maybe my baby has got to 24 or 25 and I’ve been treating it a bit like a teenager,” he laughed.
He said that he’d been blown away by the support he has received, with the administrator announcing it would honour gift cards bought before the administration phase.
Perdis also said that sales had been strong enough to encourage the administrator to continue buying additional stock.
“I’ve had an enormous amount of love. People have come out from woodworks [sic] to tell me how they’re supportive,” he said.
“It’s kind of beautiful.”
Meanwhile, the company’s options remain open.
“People have shown interest in the brand from a sales point of view [and] there are other paths that the administrator can choose to take as they make the assessment which is either investment or refinancing as well as the sale process,”
If it were to sell and the buyer was open to it, Perdis suggests he would be happy to continue having some input into the business.
Watch the full interview above.