Jeanswest IP up for sale
Jeanswest entered voluntary administration in March; now its administrators are offering the brand’s IP for sale.
The company hopes to conclude the sale of $20 million worth of jeans and fashion items by May 20, both in-store and online, before the physical stores close.
Potential buyers will have until May 29 to lodge interest for Jeanswest’s IP, including registered trademarks, apparel design, garment patterns, domain names, social media assets with customer data, and supplier relationships.
The directors of Harbour Guidance pointed out their intention to propose a Deed of Company Arrangement (DOCA) allowing the company’s restructuring, provided that the inventory and IP sales are successfully completed.
“The successful sale of the intellectual property will be a key factor in determining the viability of a DOCA and the potential for the brand to continue operating in some form,” said Lindsay Bainbridge, Jeanswest’s administrator.
Creditors have until June 30 to convene the second meeting, while the company continues to clear the remaining stock store-wide.
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