Ben Sherman has been sold as part of a pre-pack administration to Leeds-based menswear supplier BMB clothing. BMB is part of the Baird GRoup, whose retail portfolio also includes Jasper Conran and Racing Green. They distribute their brands through concessions in department stores like house of Fraser and Debenhams.The deal covers Ben Sherman in the UK and Europe, excluding Germany, the Netherlands, Austria and Switzerland; a separate deal for this divison, managed by a Germany-based licensee, is expected. As a result, c.85 head office jobs are under consultation and the London premises has been put up for sale. Three of the UK stores will close in the coming months, which includes 18-20 job losses. Interim Chief Executive Simon Smith, originally brought in as Chief Restructuring Officer, is expected to leave the business.
Ben Sherman was sold by Oxford Industries to Marquee Brands only in July last year for £41m. They have now been sold again. What’s happening with the brand?