Basler UK falls into administration

The UK arm of upmarket women’s fashion brand Basler has appointed administrators after its German parent company failed to secure a buyer.

Since May, Basler Fashion Group GmbH, which is headquartered in Goldbach, Germany, and operates in the United States, Australia and throughout Europe, has been subject to formal restructuring in Germany, which has had a “knock-on effect” to the UK and other subsidiaries and has led to the UK arm of the retail group being placed into administration.

Arron Kendall and Simon Thomas, partners at Moorfields Advisory, have been appointed joint administrators, and they have confirmed that the UK subsidiary, which has three own-brand stores located at Bond Street in London, Chichester, and Epsom, will continue to trade as normal to fulfil wholesale orders, while conducting a stock liquidation through the retail outlets.

As well as the standalone stores, Baslel UK also operates a factory outlet in York, 17 concessions and has over 100 wholesale customers throughout the UK and Ireland, including House of Fraser, Harrods and Beales. It also has close to 100 UK employees.

Basler UK appoints administrators

Arron Kendall, Partner at Moorfields Advisory, said: “Like many premium clothing brands, Basler has struggled to keep itself relevant to its core customer base, which has been exacerbated by difficult trading conditions and a reduction in discretionary spend.”

Basler was founded in Berlin in 1936 and originally specialised in manufacturing jackets and coats. In the 1960s, it extended its ranges to include its first women’s suits. In 1997 it opened its first store in Hamburg, before coming to London in 2007. Last year the Basler Fashion Group’s women’s outerwear label reported sales of 108 million euros.

Across the whole group, Basler employs more than 1,100 people worldwide in 40 own-brand stores, 80 concessions and 13 outlets.

Image: Basler Facebook