The purchase of Australian Fashion Labels' (AFL) assets was settled yesterday, Duff & Phelps administrator Brett Lord has told Ragtrader.
According to Lord, the business' assets - the IP, stock, websites etc - were bought by International Fashion Group (IFG) for an undisclosed amount, after AFL was placed into administration on January 06 with $12 million in debt.
While the assets have been purchased, what remains of the AFL companies is in liquidation, Lord said.
"The companies which we were administrators of, we are now the liquidators of - so that's the end of those companies.
"We [are now] dealing with the employees and their claims, to hopefully get them paid by the government," he said.
It is unclear as yet, whether or not any of the 57 former Australian Fashion Labels employees will be retained by the new owners.
However, according to a post on the BNKR website, a brand new customer care team has been assigned to the business and is working through the emails that were sent to the BNKR support email address.
"We ask for your patience as we work around the clock to complete this as quickly as possible while also providing personalised, custom care for each and every issue," BNKR has written on its website.
While recognising that customers have been impacted by its VA process, BNKR said it is now "resourced better than ever."
"In our mandated pause to the business while this unfolded, we know we left you hanging.
"We ask that you accept our sincerest apologies as we work to make things right under the new company ownership.
"We are now resourced better than ever, with the desire to not only make things right, but to usher in a new era of BNKR, with a continued customer-first approach and best-in-class service, plus the same amazing Aussie fashions and fresh weekly arrivals you’ve always relied on us for," the business said.
The brands, Finders Keepers, Cameo Collective, Keepsake the Label, the Fifth Label and BNKR are now all back - as IFG describes it - "in full form."
Across the five brands, IFG is offering a 25% discount on everything sitewide (excluding final clearance items).
More to come.