French denim label April 77 is in “administrative recovery”, a process which will allow the company to restructure and continue trading, according to founder Brice Partouche.
The trendy denim label, which is sold in 400 stores worldwide including on Asos.com and at designer independents including Manchester-based Ran, has not ceased trading, but will continue as a smaller restructured company, according to Partouche.
Partouche denied press reports that the business had shuttered.
He said: “The brand is not dead. It has been put in administrative recovery. It give us the opportunity to start again. It will not be closed and it’s going to be fine.”
It is not clear what forced the label to pursue the process although Partouche said it was not prompted by the economic downturn.
He added that the ownership structure of April 77 would remain the same.
Partouche founded April 77 in 2002 and it subsequently gained a cult following with fans buying into its signature brightly coloured skinny fits jeans. April 77 exhibited at the last edition of Bread & Butter Berlin and UK sales are handle by Sewn Agency.