Christopher Kane Files For Administration
The announcement comes just five years after Kane regained control of his eponymous label from the French conglomerate Kering Group.
The announcement comes just five years after Kane regained control of his eponymous label from the French conglomerate Kering Group.
News broke yesterday that London's much-loved design label Christopher Kane is teetering on the brink of collapse. In a desperate attempt to avoid full liquidation, the label have called in advisers from FTS Recovery to help seek a buyer or at least find a partner to refinance the company's vast debts.
The move comes weeks after British brand Hunter Boots also announced their collapse into administration with the 167-year-old brand reportedly owing creditors more than £100 million.
Kane launched his eponymous label in 20016 after graduating from Central Saint Martins and in 2013, Kering bought a 51 per cent stake in the company, shortly followed by an outlet opening in Mayfair. The news was well received at the time however just five years later, the French conglomerate then sold back their stake in a bid to instead focus on 'big-name brands to drive profits'. This would be the first of many blows to Kane who was forced to close the London shop during COVID-19 in 2020, after a reported eye-watering loss of £5.3 million that year.
Despite these troubling moments, Christopher Kane has a history of bouncing back. Their first physical show after years of missing from the official LFW schedule showcased the label's S/S 22 collection with a grand spectacle held in Camden Roundhouse in September 2021. Their A/W 23 collection also turned heads - notably miss Anna Wintour's who was spotted applauding the collection breaming with peplum mini dresses and farmyard lycra gowns.
There's no doubt that Christopher Kane was once at the beating heart of London fashion, a mainstay on the LFW schedule next to British brands Stella McCartney, Victoria Beckham and Vivienne Westwood - all of whom now show in Paris.
'This difficult decision has been reached to give the company sufficient time to implement a rescue plan. Key stakeholders have been notified', reads a statement from the company given to WWD. 'A period of accelerated marketing activity will now follow, with a view to locating potential interested parties to either refinance the company’s existing debt, or alternatively locate a purchaser for the business and assets.'