JD Sports buys Fenchurch
JD SPORTS Fashion has bought London-based streetwear brand Fenchurch from administrators RSM Tenon.
Fenchurch was set up in 2005 and specialiesed in casualwear such as T-Shirts, outerwar, knitwear and jeans.
It operated four of its own stores in London, Cardiff, Bristol and Glasgow. It also sold through 900 independent retailers, UK retailers such as Republic, Bank and through some major European chains such as Spain’s El Corte Ingles
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The company, which employed 40 staff from its West London headquarters, was placed into administration three weeks despite growing sales to £11.4m. Fenchurch managing director John Cockburn blamed “increased cotton prices, more aggressive pricing from China and labour shortages in textiles” for its lack of profits.
The firm also suffered from production delays in China which, together with higher spendinng on infrastructure, caused a cashflow crisis which led to its administration.
A spokesman for RSM Tenon said confirmed “the sale of certain assets including the brand and stock to JD Sports Fashion plc”.
The spokesman was unable to confirmhow much Bury-based JD Sports fashion paid for the business, nor whether the stores or its London office would be retained.
