Basler UK is a subsidiary of the long-established Basler Fashion Group, which is headquartered in Goldbach, Germany, and also operates in the US, Australia and throughout Europe.

Since May 2017, Basler Fashion Group been subject to formal restructuring in Germany, including a sale process which failed to generate acceptable offers for the business. As a result, it has now entered into a formal liquidation process and the knock-on effect is that the UK and other subsidiaries will have to enter insolvency procedures.

Basler UK has three own-brand stores located at Bond Street in London, Chichester and Epsom, a factory outlet in York, 17 concessions and over 100 wholesale customers throughout the UK and Ireland. Basler collections can be found in stores, such as House of Fraser and Harrods.

Moorfields Advisory has said it will continue to trade the Basler UK operations as normal to fulfil wholesale orders, whilst conducting a stock liquidation through the retail outlets.

Arron Kendall, partner at Moorfields Advisory and joint administrator, said: ‘Like many premium clothing brands, Basler has struggled to keep itself relevant to its core customer base, which has been exacerbated by difficult trading conditions and a reduction in discretionary spend.’

Basler was founded in Berlin in 1936 and originally specialised in manufacturing jackets and coats. In 1997 it opened its first store in Hamburg. The first Basler store opened in London in 2007, which was followed a year later by a store in Paris.

Basler Fashion Group’s women’s outerwear label reported sales of €108m (£100m) last year. The Group employed over 1,100 people worldwide and operated more than 1,900 points of sale, including 40 own-brand stores, 80 concessions and 13 outlets. The UK workforce numbers around 100 staff.