Band of Outsiders inventory, intellectual property heads to the auction block July 29

The intellectual property and inventory of the L.A.-based Band of Outsiders label are headed to public auction Tuesday according to a legal notice published in Wednesday’s print edition of fashion industry trade paper WWD.

The notice of public sale reads in part, “CLCC S.A (‘Secured Party’) will offer for sale, at a public auction, the following property of Band of Outsiders, LLC (‘Debtor’): all inventory, intellectual property (including trademarks) and general intangibles of Debtor, whether tangible or intangible and wherever located (the ‘Collateral’).

According to the notice, the auction is scheduled to take place at 10 a.m. EST on July 29 at the law offices of Otterbourg P.C., 230 Park Ave., 30th Floor, New York, NY 10169.

The auction comes about two months after news first broke that the beloved 11-year-old L.A.-based Band of Outsiders label had canceled fall wholesale orders and laid off staff and six weeks after founder Scott Sternberg posted a farewell note to fans and supporters to the label’s Instagram account.

CLCC S.A. is a Luxembourg-based fashion fund helmed by Belgian shipping magnate Christian Cigrang that has invested in a range of fashion brands including London-based designer Yang Li, Belgian labels A.F. Vandevorst and Christian Wijnants and online retailer Crest & Co.

What caused the Band brand’s seemingly sudden demise remains unclear since Sternberg has declined to comment, but a recent report by WWD (crediting a source close to the situation) says, “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.�

According to the published notice of public sale, the collateral is offered for sale “without representation or warranty of any kind on an ‘as is, where is’ basis ...�

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