The intellectual property assets of young fashion retailer Bank have been put up for sale and more stores have closed after it fell into administration earlier this year.
Joint administrators William Dawson, Daniel Smith and Paul Meadows of Deloitte have appointed IP consultancy Metis Partners to handle the sale. Metis sold off women’s young fashion retailer Internacionale’s IP assets last August.
Assets include the Bank domain name, trademark protection, customer database and in-house fashion brands including womenswear label Ribbon, ‘rock chick’ brand Heaven Sent, women’s footwear brand Kitsch Couture and streetwear brand Fred & Boston.
Bank’s social media accounts are also up for sale.
The website has been shut down and now redirects to Ark.co.uk, the website of the young fashion mini-chain owned by former Bank owner JD Sports Fashion. Drapers understands this is a temporary commercial pay-per-click arrangement until the IP assets, including the domain name, are sold.
The assets have been divided into 10 lots, for which offers are to be made separately. The administrators have set a minimum offer level of £150,000 for the Bank brand, with a deadline for offers of April 15.
Meanwhile, stores are continuing to close. Branches at Silverburn shopping centre in Glasgow, Liverpool One and Bromborough in Merseyside, and Cardiff Bay retail park closed on April 10. Eight stores in Huddersfield, Darlington, Oldham, Llandudno, Solihull, Bromley, Plymouth and Meadowhall in Sheffield will close on April 12.
It will bring the total number of closures since the start of February to 65. The remaining 19 stores will continue to trade until further notice. However, a spokesman for Deloitte said there will be another round of closures.
JD Sports Fashion sold Bank to a subsidiary of Hilco Capital at the end of November last year. It filed for administration on January 5.