Saturday, July 25, 2015

Band Of Outsiders: Everything Must Go

Band Of Outsiders is hosting a sale, offering everything it owns at auction next week in New York. The brand - which announced its sissolution in May - will offer its "intellectual property rights and inventory" next week, WWD reports, at a sale held by its secured creditor, Belgian fashion fund CLCC SA.

The brand held a liquidation sale upon the closing of its store, at 70 Wooster Street, New York, but CLCC SA obtained the remaining inventory - said to be in excess of 5,000 units - and other assets, after the label was unable to make payment on a credit line of more than $2 million. The company hosting the auction, Abacus Advisors Group, may sell the lots as a single entity or separately depending on interest.

"They are going to take offers for both assets and individually," a source toldWWD. "Depending on a number of factors they'll look to what's the highest total."

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