Historic fashion brand acquired after pre-pack administration
A LEEDS-BASED clothing group has acquired a famous brand in a pre-pack administration deal.
Ben Sherman, well-known for its rock star credentials during the 1980s and 90s, has been sold in a pre-pack deal to Leeds’ BMB Group.
The deal will see 20 jobs lost and another 80 are at risk at Ben Sherman.
BMB, part of the Baird Group, can trace its roots back to 1894. Brands under the group’s umbrella include Jeff Banks, Suit Direct and Racing Green.
A US private equity-backed firm, Marquee Brands sold the company having owned it for just six months, the Guardian has reported.
Marquee acquired the business in July 2015 from Oxford Industries Inc.
The pre-pack deal will see three of Ben Sherman’s 10 stores in the UK close, at Islington, Portobello and Covent Garden in London.
Ben Sherman was founded by Arthur Benjamin Sugarman in 1963 and came to prominence when it was worn by members of The Who, The Jam, and The Specials. The brand saw a renaissance in the 1990s with band members of Oasis and Blur donning their signature shirts.
