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EBTM bought out of administration

TKC Direct, parent company of six-store streetwear independent Route One, has bought Everything but the Music (EBTM), the music-inspired fashion etailer, out of administration for an undisclosed sum.

EBTM said TKC Direct bought the trademark and website of EBTM from administrators BDO Stoy Hayward. It is also understood to have acquired the customer database, but not the stock. TKC Direct is believed to have acquired the business to help broaden its customer base. It will relaunch the EBTM website this summer.

EBTM fell into administration in March. It had sales of £1.8m for the six months to October 31.

TKC Direct opened its first Route One store in 1989. The business has sales of £2.7 million a year.

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