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Bench's IP assets up for sale

The intellectual property assets of British streetwear brand Bench are to be put up for sale.

Bench went into administration 30 April, putting 176 jobs at risk.

Joint administrators Martha Thompson, Antony Nygate and Kerry Bailey of BDO have now appointed Metis Partners to marketing the intellectual property portfolio of the brand.

A deadline of 12pm on 15 May has been set for interested parties to submit offers or request more information on the sale.

Drapers understands Bench’s 20 UK stores are to stay open in the immediate future and no redundancies have been made as yet.

The insolvency will also affect its German operations, which are based in Munich and employ an additional 170 people across head office and 15 stores.

In a statement the business cited difficulties relating to the UK retail market, the weakness of sterling and a “major” logistics issue in 2016 as factors in its demise.

 

 

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