Arron Kendall and Simon Thomas, Partners at Moorfields Advisory have been appointed joint administrators of the UK arm of upmarket women’s fashion brand Basler. Basler UK is a subsidiary of the long-established Basler Fashion Group GmbH, which is headquartered in Goldbach, Germany, and also operates in the United States, Australia and throughout Europe.
Since May 2017, Basler Fashion Group GmbH has been subject to formal restructuring in Germany, including a sale process which failed to generate acceptable offers for the business. As a result, Basler Fashion Group GmbH has now entered into a formal liquidation process. The knock-on effect is that the UK and other subsidiaries will have to enter insolvency procedures.
Basler UK has three own-brand stores located at Bond Street in London, Chichester and Epsom, a factory outlet in York, 17 concessions and over 100 wholesale customers throughout the UK and Ireland. Basler collections can be found in stores, such as House of Fraser, Harrods and Beales.
Moorfields Advisory will continue to trade the Basler UK operations as normal to fulfil wholesale orders, whilst conducting a stock liquidation through the retail outlets. We invite customers to visit their local store to take advantage of the large discounts available on all collections.
Arron Kendall, Partner at Moorfields Advisory, said: “Like many premium clothing brands, Basler has struggled to keep itself relevant to its core customer base, which has been exacerbated by difficult trading conditions and a reduction in discretionary spend.”
Basler was founded in Berlin in 1936 and originally specialised in manufacturing jackets and coats. In the 1960s, Basler extended its ranges to include its first women’s suit “Mona” and “co-ordinates”, and in 1997 it opened its first store in Hamburg. The first Basler store opened in London in 2007, which was followed a year later by a store in Paris.