Xcel Brands is acquiring C. Wonder brand, the preppy clothing retailer that announced it would shutter all stores earlier this year.
Back in January, the retailer announced it would close its doors after it laid off employees and filed for Chapter 11 bankruptcy. Pending the completion of the transaction, Xcel will own the entire company, acquiring everything from intellectual property rights and trademarks to related designs.
Xcel was founded in 2011 and owns brands such as Isaac Mizrahi, Judith Ripke and H Halson. The company also manages and distributes Liz Claiborne New York, which is sold exclusively through QVC.
C. Wonder was founded by billionaire Christopher Burch in 2011 and sold primarily women's clothing, footwear, jewelry and accessories, along with some houseware, home decor and gifts. The retailer was acquired by Burch Acquisition, controlled by Burch, after it filed Chapter 11 in order to explore opportunities to redevelop the brand.
Burch had struggled to differentiate his designs from those of designer and ex-wife Tory Burch, Business Insider reported. In fact, Tory Burch sued her ex-husband in 2012 for copying her designs.
Last year, Christopher Burch's Creative Capital led a $10 million funding in BaubleBar, primarily to foster its relationship with Nordstrom's (NYSE:JWN).
-See this Business Insider article
-See this Xcel Brands press release
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