US: London Fog Group to liquidate
US raincoat and apparel maker London Fog Group has its days numbered.
The company is set to file for liquidation on 30 October after a series of asset sales, most crucially that of its London Fog trademark to Iconix Brands last August.
Seattle-based London Fog Group will distribute $5.4m of its remaining cash to unsecured creditors before folding up the business, US newspaper The Deal reported.
London Fog Group's unwinding won't spell checkmate for the London Fog namesake, however, which Iconix is expanding into a full lifestyle brand to take on Burberry.
The UK and US brands - both of which make upmarket raincoats and scarves, recently settled a trademark dispute through which Burberry alleged London Fog had copied its raincoat checked patterns.
In a statement on 11 September, both parties said they were satisfied with the settlement but did not provide more details.
Burberry is expanding aggressively in the US where it hopes to benefit from Americans' 'love' for the quintessentially English brand.
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