Troubled menswear brands Rhodes & Beckett and Herringbone will live to fight another day after a management buyout was secured with support from a Hong Kong-based private equity firm, in a resolution administrators say they are very pleased with.
The brands had 140 employees across 29 stores when administrators were appointed in February, when high overheads and tough leasing conditions were said to have contributed to the companys woes.
Administrators at Cor Cordis began examining inventory and store performance, closing seven shopfronts and bringing in Gordon Brothers for a stock clearance program.
This week, administrators announced a management buyout had been negotiated, with Black Bear Holdings, which is he…
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