Evaluating only Atterley’s profile at its peak — without knowing the outcome — the model ranked Unit economics as the #1 likely cause. That’s exactly how it died.
Key Events Timeline
FOUNDING
Rob Feldmann founded Atterley in Edinburgh as a curated marketplace for independent fashion boutiques.
FUNDING
Raised £4.5M in funding round backed by Scottish Enterprise to expand boutique partnerships across the UK.
PIVOT
Post-pandemic boutique closures shrink supplier network; CAC spikes as competition from ASOS and Zalando intensifies.
SHUTDOWN
Atterley entered administration; 30 staff made redundant; platform taken offline within weeks.
Full Analysis
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Documented cause
Atterley, the Edinburgh-based independent fashion marketplace backed by Scottish Enterprise and private investors with around £8M raised, entered administration in August 2023. CEO Rob Feldmann had positioned it as a sustainable alternative to ASOS aggregating indie boutiques. Rising cost of customer acquisition, inability to compete with fast fashion platforms on price, and post-pandemic boutique closures depleted its supplier network. Around 30 staff were made redundant.
Lesson
“Marketplace liquidity depends on both supply and demand; indie supplier networks are fragile in downturns.”