Renown to Sell Main Brands to Koizumi Group
Tokyo, Aug. 21 (Jiji Press)--Failed Japanese apparel maker Renown Inc. said Friday it will sell five main brands to the Koizumi Co. apparel group for an undisclosed sum.
The sale is set to be completed at the end of September subject to court approval.
Renown itself may be liquidated, a source familiar with the matter said. The company filed for bankruptcy protection in May.
The five brands include the D’urban men’s apparel, Aquascutum luxury clothing and Simple Life casual clothing.
They will be sold to Koizumi Apparel and Oggi International, both Koizumi group firms, based in Osaka, western Japan.
[Copyright The Jiji Press, Ltd.]