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Closure Threat Hangs Over Ben Sherman Shops

Closure Threat Hangs Over Ben Sherman Shops

The new owners of Ben Sherman, the British fashion label worn by generations of home-grown musicians, are examining plans to offload a chunk of its store network.

Sky News understands that Marquee Brands, a US-based brand acquisition and licensing company, is looking at the option of closing or selling a number of Ben Sherman's UK shops.

Details of its plans were unclear on Friday, but Marquee is said to be working with Gordon Brothers, a specialist in liquidating retail assets, on the project.

Gordon Brothers oversaw a controversial restructuring of Clerys, the Irish department store group, earlier this year.

Ben Sherman has more than 20 standalone shops in the UK, but has been loss-making for some time, prompting its former owner, Oxford Industries, to put the brand up for sale.

Marquee paid just over £40m for the business in July, announcing that it had "acquired the Ben Sherman brand and related intellectual property assets".

Established in 1963, Ben Sherman shirts became a staple of successive youth cults during the 1970s and beyond.

Marquee, which is backed by Neuberger Berman, an American investment manager, said at the time of its purchase of Ben Sherman that it had "substantial global growth potential" and that "new products and expanded retail" would be launched in the first quarter of next year.

Responding to an emailed enquiry about its ownership of Ben Sherman, Cory Baker, a senior Marquee executive, said there were "no plans to close the entire network of stores" but declined to comment further.

Gordon Brothers and Neuberger Berman declined to comment.