Maybe it was the cost of all those sewing machines, but the All Saints fashion chain is said to be looking for an urgent injection of capital according to Sky News. The chain has expanded rapidly over the last few years and now has more than 60 standalone shops and almost 50 concessions in the UK, Europe, the US and Russia.

Being at the upper price scale of the high-street makes you vulnerable to people tightening there belts and particularly to younger shoppers who are having trouble finding work or are trading down to cheaper alternatives.

Much like French Connection before it, All Saints became di rigeur for a while, young people couldn't get enough of the leather shirts and Rick Owen style leather jackets. But people get bored very quickly and move on and unless you have established yourself as something more long-term you can implode. The same happened to American Apparel. It's the fashion equivalent of a boyband, you have a couple of hits but you need to make the money before the kids get tired and more on to something else. Abercrombie & Fitch, Jack Wills, Hollister, Superdry are all brands that are vulnerable to the fickle nature of fashion. Evolve or die.