Marchpole subsidiary sale achieves £3m return for creditors
Accountancy Age, 20 Nov 2008
A subsidiary of insolvent luxury brand management business Marchpole Group has been sold.
JCC, the brand and producer of clothes and accessories in partnership with designer Jean-Charles de Castelbajac, has been sold to Atlas Design Group for £3.15m.
Administrative receivers from Grant Thornton, who achieved the sale, were pleased with the deal.
'The sale of the shares allows the business to move forward under new ownership, while realising value for Marchpole’s creditors,' said Grant Thornton's Martin Ellis.
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