Scottish fashion designer Christopher Kane’s renowned company is currently facing the dire prospect of collapse, as it has taken the step of filing a notice to appoint administrators. In order to safeguard itself from its creditors and salvage its future, the brand has sought the assistance of insolvency experts from FTS Recovery. Christopher Kane, along with his sister Tammy Kane, co-founded the retail brand in 2006, and hopes that this last-minute measure will facilitate a rescue plan, potentially involving refinancing or finding a new buyer.
The success of Mr. Kane’s label has been phenomenal, attracting a large following, including prominent personalities such as Anna Wintour and Alexa Chung. In 2013, luxury powerhouse Kering acquired a majority stake of 51% in the business, further elevating its status. However, in 2018, the French company made the decision to return the brand to its original founders.
A spokesperson for Christopher Kane Limited expressed, “The board of Christopher Kane Limited recently made the difficult decision to file a notice of intention to appoint FTS Recovery as administrators. This step has been taken in order to grant the company adequate time to execute a rescue plan. Essential stakeholders have been duly informed. Subsequent to this, intensified marketing efforts will ensue, aimed at identifying potential interested parties who could either refinance the company’s existing debts or, alternatively, acquire the business and its assets.”
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