Luxury brand hopes for rescue plan
London-based fashion and accessories brand Christopher Kane Limited has gone into administration, which is the equivalent of bankruptcy protection. The move is designed to give the company time to put “a rescue plan” in place.
It said it would now begin “a period of accelerated marketing activity” to try to find investors who are willing to help the company refinance existing debt, which would let it continue as a going concern.
The other possible outcome of the administration process is that creditors fail to agree a refinancing package and the company goes into liquidation. At that point, the administrators, FTS Recovery, would look to sell the business and its remaining assets to new owners.
The brand launched in 2006 after founder, Scottish designer Christopher Kane, graduated from Central Saint Martins design college in London. He ran the business with his sister, Tammy Kane.
Luxury group Kering (then PPR) acquired a 51% stake in Christopher Kane Limited in 2013 but sold its share back to the founders in 2018.
The company said the decision to go into administration had been a difficult one. It said it had notified key stakeholders.
