KordaMentha is pleased to announce the sale of luxury fashion brand The Daily Edited.
Following a competitive sale process run by KordaMentha, BJM 2020 Pty Ltd (BJM), the owners of Colette by Colette Hayman (CBCH), have acquired The Daily Edited, trading as tde. Contracts were exchanged today, with settlement to take place in January 2023.
BJM's Executive Chairman Bernie Brookes AM said:
"The decision to purchase the business was made easier by the work of KordaMentha, who ensured continuity in trading, not only through the period of administration, but also during the Christmas period. Full credit to the KordaMentha team, Kate Conneely and Rahul Goyal, for adopting a strategy that included ongoing trade of tde."
KordaMentha Partner Kate Conneely was pleased with the outcome of the sale process:
"It was a challenging period having to restart the business in the name of the Company, retain existing staff, attract new employees, re-establish trading relationships with suppliers and rebuilt trust with customers. We were pleased with sales during the administration period and with the level of interest from parties to buy the business.
"CBCH is a well-established brand and is the perfect acquirer of the business. Bernie and his team bought Collette in similar circumstances and understand what is needed to build a brand that needs a little extra attention. Overall, it has been a very satisfying process and I would like to thank all involved, especially the employees of tde."
KordaMentha was advised by Mills Oakley whilst BJM was advised by Coleman Greig.