We are extremely disappointed to confirm that Planks Clothing – the British snowsports brand – is currently seeking a buyer prior to the appointment of a liquidator.

Planks Clothing assets and IP for sale

Investors were advised by letter last month that the company had not been successful in their latest attempt to raise capital to continue the business.

Last week BPI Asset Advisory started the process to find a buyer for the assets, which consist of the brand name, trademarks, website, customer list and £185,000 of stock.

Significant losses

The company has been making unsustainable losses for several years.

While turnover has ranged between £1.1 million and £1.6 million in the four years to the end of May 2023, losses have averaged £843,000 per annum across that period.

Offers need to be submitted by midday 12 June 2024, so anyone interested will need to be quick.

It has not been possible to buy any products on the Planksclothing.com website since last week (see screengrab below).

Supporter of British skiing

This is hugely disappointing news. Planks Clothing has been a great supporter of British skiing since it was founded by Jim Adlington in 2008.

They are a current partner of GB Snowsport and have worked with many other organisations in the UK snowsports industry including Snowcamp and The Ski Club of Great Britain.

They are a sponsor of British freestylers James ‘Woodsy’ Woods and Kirsty Muir, among others.

High standards of sustainability

The brand also had very high levels of sustainability and I was delighted to be joined by Franck Waterlot from Planks on my panel on sustainability at LISTEX in October 2024.

The company is proud of having recycled over 3 million waste plastic bottles through their collections over the years.

Jim Adlington, Founder of Planks

On a personal level, I have known Jim for many years, from before the Planks days, when he was one of the first British freeskiers to break onto the world scene in the early-Noughties.

I know how much time and effort he has put into building Planks into a global brand and how disappointed he will be.

To find out more about his story, listen to my interview with Jim for The Ski Podcast, recorded in June 2021: