German fashion company TriStyle Group has acquired embattled womenswear retailer Basler, but the future of retail staff remains uncertain as it confirmed the closure of its stores.
The German retailer initially placed itself into voluntary administration in June before it went into liquidation in August, while Basler’s UK arm went into administration in September.
As part of the acquisition, TriStyle said there would “no longer be any Basler retail shops” and that it would focus on supplying retailers on the new autumn/winter range as “a first step”.
“The Basler brand has tremendously high appeal for the target group of discerning, fashion-conscious customers,” TriStyle managing director Stefan Kober said.
“With our product and sales expertise in this target group, we are determined to make the Basler brand an integral and above all successful part of the German fashion industry once again.”
TriStyle secured the brand rights of Basler for an undisclosed sum and it has not yet been confirmed how retail staff would be affected.
It has also not been confirmed how Basler’s UK staff will be impacted by the acquisition.
Basler was founded by the family of the same name in 1936, and originally specialised in manufacturing jackets and coats before expanding to include its women’s suits.
It opened its first standalone store in 1997 in Hamburg, before coming to London in 2007.
Prior to the liquidation, Basler had three own-brand stores in the UK located at Bond Street in London, Chichester and Epsom.
The brand also operates a factory outlet in York, 17 concessions and has over 100 wholesale customers between the UK and Ireland.
Tristyle owns German 45-plus women’s brands Peter Hahn and Madeleine Mode, as well as the British fashion brand for tall women Long Tall Sally.