US-based investment firm Gordon Brothers has acquired Bench and all its related intellectual property assets, after the business went into administration in April.
Gordon Brothers said it will initially focus on reestablishing the brand’s European ecommerce presence, and rebuild its wholesale footprint in that territory. In North America, Gordon Brothers will continue to work with Freemark Apparel Brands Group, which previously operated its retail, wholesale and ecommerce business.
Gordon Brothers acquired the intellectual property of US-based fast fashion retailer Wet Seal last year, and its previous investments include Polaroid and Bombay & Co.
Bench was launched in Manchester in 1989. It had more than 80 Bench branded stores and 2,000 wholesale stockists last year.
“Streetwear has never been hotter than it is today,” said Ramez Toubassy, president of Gordon Brothers’ brands division.
“We are excited to be able to acquire an authentic pioneer in the category and bring our thoroughly modern branding, marketing and business model to bear in reestablishing Bench as a streetwear powerhouse.”
Financial details of the transaction have not been disclosed.