Bank Fashion administrators start selling off its assets

In order to make some proceeds that will go to repairing the retailer’s debt, the administrators of Bank Fashion are selling off intellectual property assets including its social media following and its domain name.

The sale is being conducted by IP specialists Metis Partners, under instruction from Bank’s joint administrators at Deloitte.

“These are major brands which have a strong and loyal following and Bank Fashion has had a significant presence in UK retail for more than 20 years,” said Nat Baldwin of Metis Partners, who is running a global marketing campaign for the IP assets.

The IP assets for sale include: the Bank brand and related IP assets including trademarks; the bankfashion.co.uk domain name and customer database as well as a number of other attractive menswear and womenswear brands protected by trademarks such as Ribbon, Heaven Sent, Kitsch Couture, Fred & Boston, Irreverence, Tortured Genius, Subsocial, Turn & Face and Bishoujo.

It is worth to remember that the joint administrators have set a deadline for offers of noon on Wednesday, April 15, 2015.

The company’s IP assets have been divided into 10 lots, for which offers are to be made separately. A minimum offer level of 150,000 pounds has been set for the Bank brand, according to a report published on Metis Partners website.