Belgian fashion fund CLCC SA, creditor and current owner of Band of Outsiders after it couldn’t return a granted $2.5 million credit line, will continue operating the LA-based brand. On Wednesday, there were no sizable bids for the brand’s intellectual property and remaining inventory during a public auction that CLCC organized in New York.

Earlier today, a spokesman of CLCC SA told SPORTSWEAR INTERNATIONAL that the company “believes in the Band of Outsiders brand and will continue to market Band of Outsiders in the U.S. and overseas.” However, the same source didn’t deny the possibility of selling the label in the future if an offer large enough to cover the debt comes.

CLCC SA is the fashion business unit of Belgian shipping company CLdN, which belongs to Christian Cigrang. Created in 2013 and headquartered in Luxembourg, CLCC SA has also invested in other labels like A.F. Vandervost, Christian Wijnants and Yang Li.

Whether the brand continues under CLCC’s ownership or not, it’s unlikely that brand’s founder Scott Sternberg joins the team again, after he said goodbye to all brand supporters via Instagram.
All in all, uncertainty still dominates the future of Band of Outsiders.