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Monday, 28 February 2011

EBI Apparel in administration

EBI Apparel, the leeds based manufacturer of lingerie and underwear under licence for clients which includes Monsoon, the high street retailer, has gone into administration.

The administrators at Leonard Curtis are trading the company while looking for a buyer.

EBI Apparel also produced a private label service and owns the lingerie brand Ballet.  It works with various licences through its brand and licensing division.

The business employs more than 65 staff and has partner factories worldwide including an operation in Hong Kong.

Trading a business while looking for a buyer is known as a trading administration.  The administrators will be looking to sell the business quickly so as to get the best outcome for creditors.  A pre-pack administration can only really be achieved if a buyer is already willing and able to take on the business prior to the appointment of administrators.  In a pre-pack the company is put into administration at the same time as the "business" is sold to a new company.

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