A sale is on the cards for British heritage menswear brand Hardy Amies, after it went into administration last week.
Freddy Khalastchi and Jonathan Bass of Menzies were appointed as administrators on 9 January, and are seeking a buyer for the UK operations and intellectual property rights
The loss-making UK business – which includes a flagship at 8 Savile Row in London and a website – is still trading. The administration will have no effect on the brand’s international operations, which are trading successfully, the administrators said.
A source close to the situation said: “There are interested parties and I am confident of a sale, but it really depends on what that person intends to do with it.”
Simon Carter, owner of menswear brand Simon Carter said: “It’s a very crowded market and I suggest that somebody will be more interested in picking up the lease because that’s a very nice piece of Savile Row real estate.
“Given that [private equity firm owner Fung Capital] did its best with it, and invested something between £10m and £20m, you wonder why anyone else would think they can do better.
“[Edinburgh Woollen Mill owner and CEO] Philip Day might be interested to add it to his stable, but he’s got plenty of heritage brands that he hasn’t done much with yet.”
Founded by English designer Sir Hardy Amies in 1946, the business was rescued out of administration by a subsidiary of Fung Capital in 2008.