Scottish fashion designer Christopher Kane’s company is on the brink of collapse, after it filed a notice to appoint administrators.
The business has filed its intention to appoint FTS Recovery as administrators, to protect it from creditors as it fights for survival.
The retail brand, which was founded by Christopher Kane and his sister Tammy Kane in 2006, said it has filed the notice in a last-minute bid to help it secure a rescue plan, which could involve a refinancing or new buyer.
Kane’s label grew rapidly in popularity, with famous fans such as Anna Wintour and Alexa Chung, before luxury giant Kering bought a 51% majority stake in the business in 2013.
However, the French firm sold the brand back to its founders in 2018.
A spokesman for Christopher Kane said: “This difficult decision has been reached to give the company sufficient time to implement a rescue plan.
“Key stakeholders have been notified.
“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.”
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