Metis appointed to find buyers
Collapsed Bank Fashion brand assets expect high level interest
Bank traded from 84 stores across Britain and online and went into administration on 5 January after running up continued losses.
The sale of the company’s intellectual property assets is being conducted by Glasgow-based Metis Partners which was appointed by joint administrators, Bill Dawson, Daniel Smith and Paul Meadows of Deloitte.
Metis Partners has led a number of fashion IP sales, including names such as Horrockses, Ortak and Internacionale.
The Bank brand and related IP assets, including trade marks, that have been put up for sale include the bankfashion.co.uk domain name and customer database. There are also a number of menswear and womenswear brands protected by trade marks such as Ribbon, Heaven Sent, Kitsch Couture, Fred & Boston, Irreverence, Tortured Genius, Subsocial, Turn & Face and Bishoujo.
Nat Baldwin, of Metis, who is co-ordinating the global marketing drive for Bank Fashion, said: “These are major brands which have a strong and loyal following and Bank Fashion has had a significant presence in UK retail for more than 20 years.
“From its beginnings as a single store in Stockport, it has consistently committed to bringing catwalk trends to the high street. Its annual turnover has exceeded £100 million in the last four years.”
The deadline for offers is noon on 15 April. The company’s IP assets have been divided into 10 lots, for which offers are to be made separately. A minimum offer of £150,000 has been set for the Bank brand.