Fashion news to fill your date’s awkward silences with.
Suede release their brand new album Night Thoughts on January 22nd and today reveal the first new track, Outsiders.
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BAND OF BIDS: Band of Outsiders’ intellectual property rights and inventory are to be put up for auction. According to a public notice placed in today’s weekly print issue of WWD and the Wall Street Journal, the brand’s secured creditor, Belgian fashion fund CLCC SA will hold a public auction on July 29 at the offices of its legal representation, Otterbourg P.C.
News that Band of Outsiders had canceled its fall line and laid off staff first broke on May 26. The label has since closed its retail operations at 70 Wooster Street, following a liquidation sale. A source close to the situation told WWD that CLCC SA gained peaceful possession of Band of Outsiders’ assets after the label was unable to make payment on a credit line of more than $ 2 million. Despite the label’s liquidation efforts, the inventory to be auctioned still includes more than 5,000 units, the source said.
It is understood that Alan Cohen of Abacus Advisors Group — who is overseeing next week’s auction — is taking a wait-and-see approach when it comes to selling the brand’s intellectual property and inventory as a single asset or as separate entities. “They are going to take offers for both assets and individually…depending
Band of Outsiders, the contemporary men’s and women’s brand founded by Scott Sternberg, may be taking its last bow. Reached today by WWD, Sternberg said he was neither able to confirm nor deny reports that he’s shuttering the business he founded a decade ago.
“Nobody knows anything at this point but me,” he said, “and I’ve been advised not to comment at this time.”
According to a report on Fashionista.com Tuesday, Band of Outsiders has laid off the majority of its staff and canceled its fall orders.
RELATED CONTENT: Band of Outsiders Fall 2015 >>
Sternberg became one of the strongest voices in the Los Angeles design community when he decided to headquarter his company on the West Coast. “There’s a purity to what we do out here that doesn’t exist anywhere else,” he said of his preppy-with-a-twist brand. Until last year, Sternberg showed his women’s collection on the runway at New York Fashion Week and devised innovative ways to share his men’s collection — from time-lapse photo installations to closed-circuit video feeds.
At a Barneys New York dinner last fall celebrating his 10 years in business, Sternberg said, “I’m sober in a very positive way, meaning, ‘OK, 10 years…what did we do right, what did
Band of Outsiders will close its New York store “effectively at the end of June,” according to a sales associate.
The brand, which is reportedly in the process of shuttering its operations, will keep its SoHo boutique open for one more month to sell the remainder of its merchandise at reduced prices. The sales associate confirmed WWD’s Tuesday report that the label will not produce its fall collection.
Band of Outsiders revealed the news of its store sale on Instagram Thursday afternoon with a photo of a sign that read “Band Of Outsiders. Yes, we’re still open and we’re on sale!” The post’s caption read, “So, like, come and buy something. #70Wooster, #sale, #nocomment.” The latter hashtag was likely made in reference to Band of Outsiders founder Scott Sternberg’s silence amid an onset of reports that his label is ceasing operations. On Tuesday he told WWD, “Nobody knows anything at this point but me, and I’ve been advised not to comment at this time.”
But his staff is less careful. The Band of Outsiders sales associate said currently, “pretty much everything” at the label’s 70 Wooster Street boutique is on sale at up to 40 percent off — including the brand’s resort and spring collections. This