Ballet Lingerie has been rescued from administration by majority shareholder EBI Apparel, as predicted by Drapersonline.com.
The brand, which went in to administration on January 29, has been acquired by the manufacturer, which has owned a stake in Ballet Lingerie since 2006. It is understood to have acquired the brand in full.
Ballet Lingerie produces bra ranges under the Ballet brand and wholesales to stockists including John Lewis and specialist lingerie independents.
The deal involves the relocation of the full Ballet workforce, which totals 16 staff, from Ballet’s office in Nelson, Lancashire, to the EBI Apparel’s head office in Leeds. Relocation of the team began in November.
EBI Apparel chief executive Mason Asgha said: “Whilst Ballet will remain a separate trading division of EBI Apparel, this move will strengthen the company as a whole, thus widening our prospects and allowing us to become better positioned in the apparel market”.
EBI Apparel divisional sales director Jo Stockdale said: “All existing orders will continue seamlessly through the new company so there will be no impact on our customers.”
EBI Apparel managing director Helen Richardson said: “Despite a difficult economic climate, we have managed to secure many exciting projects within different areas of the business. Our brand house is now proud to carry the Ballet brand and the Monsoon lingerie and nightwear brand and we continue to seek new opportunities within the branded market. EBI private label has recently taken on a new licence which is in high demand and we have also successfully widened our product offer to include nightwear, swimwear, beachwear and babywear.”