Scottish fashion label Christopher Kane purchased by founders after filing for administration

Scottish designer Christopher Kane has purchased the assets and intellectual property of his eponymous label with his sister after it fell into administration last month.

The business filed for administration in June after it was on the brink of collapse.

Insolvency experts from FTS Recovery were appointed as administrators.

The move aimed to protect it from creditors in its fight for survival.

Kane, along with his sister Tammy Kane, have now purchased the brand and its sister label More Joy in a pre-packaged deal for an undisclosed sum, which included all the trademarks and intellectual property associated with the labels.

The retail brand was founded by the siblings in 2006 shortly after the designer’s graduation from Central Saint Martins.

The label grew rapidly in popularity throughout the 2010s and famous fans included Vogue editor Anna Wintour and Alexa Chung.

Luxury French firm Kering bought a 51% majority stake in the business in 2018.

However, the stake was sold back to the founders in 2018.

Kane and his sister each owned half of Christopher Kane Ltd, filings at Companies House show.

FTS Recovery said that on July 13 when administrators were appointed it was able to immediately secure a sale to the original brand founders of all trade names, trademarks and other intellectual property.

Marco Piacquadio, director at FTS Recovery, said: “The sale of the assets has managed to ensure repayment in full of the secured creditor and we anticipate that a distribution will also be made available to the preferential creditors.”