Turkish retail company Eroglu Holding has bought bankrupt Dutch fashion business Mexx, according to reports.
Mexx filed for bankruptcy in December, but its stores in the Republic of Ireland and Northern Ireland remained open while a buyer was sought.
The men’s, women’s and kids’ business was owned by US private equity firm Gores Group, which bought it from US fashion business Liz Claiborne in 2011. It has three franchise stores and five shop-in-shops in Ireland, in addition to three franchise stores and 11 shop-in-shops in Northern Ireland.
Mexx closed its 61 stores in the rest of the UK in 2008, including stores on Oxford Street and Covent Garden in London, one in Edinburgh, and concessions.
It is understood Nuretin Eroglu, president of Eroglu Holding, is looking to invest in and relaunch Mexx, opening up to 100 new stores across Turkey.
He told Dutch newspaper De Telegraaf: “With this acquisition, we hope to increase include our name in the global fashion industry.” Mexx has 500 stores in 56 countries and a turnover of €1.2bn (£0.9bn), the paper said.
Eroglu’s plans for Mexx in the UK are not yet known. Financial details of the deal have not been disclosed.