Overview
- Gordon Brothers says it executed a capital-led solution using an assignment for the benefit of creditors to monetize inventory and wind down CELS Brands’ physical operations.
- The acquisition covers the intellectual property and trademarks for Chinese Laundry, Dirty Laundry, CL by Laundry and 42 Gold.
- Approximately 1.5 million pairs of shoes are being brought to market for retailers to purchase.
- Financial terms of the transaction were not disclosed.
- The buyer plans to expand distribution through new licensees and add the portfolio to a growing stable that includes Nicole Miller, Rachel Zoe and LK Bennett.