Mercury retailers safeguarded

14 October 2009

The new owner of branded apparel company Mercury Brands has pledged that retailers' forward orders will be honoured, after stepping in to rescue the troubled wholesaler in recent weeks.

French KittyAustralian Horizons Trading - under the aegis of managing director and veteran rag trade identity Jeff Moss, former owner of the Rockmans, Wombat and Table Eight brands - has purchased Mercury's assets, brands and licenses, along with inventory, forward orders and the existing debtor book.

"Australian Horizons Trading will be delivering on any forward orders placed with Mercury Brands. The acquisition guarantees continuity of supply for local retailers," Moss said.

The Mercury Brands acquisition includes fashion labels No Fear, Purr (pictured right), French Kitty (pictured left), Crusty Demons, Kangol, Roar, Rochford Australia, Voodoo Dolls, Contempo, Billiecart, Paperdolls, Milly, Leroy, Jimmie Jams, Playground and Nuggets.

PurrMercury entered administration in September following financial troubles brought on by the collapse of Opes Prime and the global economic crisis. The company had recorded an $11.4 million hit for FY 08/09.

Jeff Moss purchased Australian Horizons in August this year and Funtastic Footwear in June.

Meanwhile Lyndon Charles Reeks has resigned as director and company secretary of embattled fashion group Biron Apparel, which had attempted to re-launch into the fashion sector this year through a $2 million investment deal with Mercury Brands.The deal disintegrated, with Mercury Brands entering receivership in mid-September. George Karafotias has been appointed as director and company secretary of Biron.

 

 

Comments

James

God help Aust Horizons !!

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