Christopher Kane seeks buyer urgently or will appoint administrators
The notice gives it some protection from creditors offering it breathing space for 10 days. Reports suggested it’s seeking to refinance or find a buyer.
Insolvency firm FTS Recovery is set to be the administrator if it does go under.
“This difficult decision has been reached to give the company sufficient time to implement a rescue plan,” it said in a statement on Wednesday.
The brand was established in 2006 after Kane graduated from Central Saint Martin’s and has made a major impact since then.
It’s a celebrity favourite and has been worn by global paparazzi magnets including Michelle Obama and the Princess of Wales.
But the pandemic was a tough time for the firm and it closed its Mount Street, London store in 2020.
A regular on the runways, the brand had been appealing enough for Kerning to buy a controlling stake a decade ago with the intention of growing it to the next level. But it sold the stake back to Kane five years later with Kering focusing on its biggest labels instead. Stella McCartney also bought back control of her business from Kering at roughly the same time.
The company is currently wholly owned by Christopher Kane and his sister Tammy.
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