Young fashion chain Logo has been sold to London denim supplier Mario Designs (MDL).
MDL managing director Mario Pavlou said he planned to raise the age profile of the business, broaden the product range and take the brand upmarket.
“I intend to invest in the Logo stores and brand, opening new stores throughout the UK. I’m confident that under the new ownership and management Logo will develop and flourish,” he said.
MDL also supplies TK Maxx and Sainsbury’s.
Logo is the latest value chain to have been snapped up by a supplier. Both Atlantic Fashions and Internaçionale are believed to have had investment from suppliers, while Select was rescued by one of its suppliers earlier this year.
Last year, Drapers revealed that Logo had closed up to nine stores in high-profile sites, including the Bullring in Birmingham and Meadowhall in Sheffield, as well as three shops in Edinburgh, one in Glasgow and one in Belfast. It is also understood to have shut two outlet stores, in Manchester and North Shields, Tyne & Wear.
Mark Brafman, a former director of MK One, bought 100 MK One stores from administrator Deloitte this week. Deloitte is seeking a buyer for the remaining 70 stores.