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Rescue deal on cards for Paul Costelloe

Paul Costelloe womenswear was expected to be rescued from administration by Portuguese supply group Calvegest as Drapers went to press.

The womenswear collection was licensed to supply group Signature Brands International [SBI], which appointed Ernst & Young as administrators last week. Calvegest was the majority shareholder in SBI prior to its collapse and is also expected to buy back the Four Seasons and Dannimac brands from the administrators. Meanwhile, Paul Costelloe is expected to open London Fashion Week in its traditional catwalk slot of 9am on February 18.

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