The brand and intellectual property (IP) assets of leading high street fashion retailer Bank Fashion Limited, as well as a number of popular and well-known labels traded by the company, is the focus of an intensive and focused international marketing campaign.
Bank, based in Bury, Greater Manchester, traded online and from its chain of 84 stores across the UK. It went into administration on 5 January 2015 following a period of losses.
The sale of the company’s IP assets, which include a large customer database as well as a social media following numbering in the hundreds of thousands, is expected to attract intense interest from parties operating in the fashion and retail sectors.
The sale is being conducted by Metis Partners, one of the UK’s leading intellectual property (IP) specialists, upon instruction from the company’s Joint Administrators, Bill Dawson, Daniel Smith and Paul Meadows of Deloitte LLP. Metis Partners has an established track record of highly successful fashion IP sales, its portfolio of past sales including names such as Horrockses, Ortak and Internacionale.
Nat Baldwin, of Metis Partners, 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 £100m in the last four full years.”
The IP assets for sale include: the Bank brand and related IP assets including trade marks; the bankfashion.co.uk domain name and customer database as well as a number of other attractive 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.
The Joint Administrators have set a deadline for offers of noon on Wednesday, April 15, 2015. The Company’s IP assets have been divided into 10 lots, for which offers are to be made separately. A minimum offer level of £150,000 has been set for the Bank brand.