Bidding war for Brava Fabrics: “The deal is attracting international buyers”

Madrid – The Barcelona-based fashion firm Brava Fabrics has been in voluntary administration since June 25. A bidding war has now opened for the insolvency process. This phase is expected to conclude on September 15 with the fully operational company being handed over to a new owner.

The digital platform Kentra is working towards this timeline and with this confidence. Kentra has been appointed as the specialised entity for the sale of Brava Fabrics' production unit. The appointment was made by Manuela Serrano Sánchez of the Barcelona-based law firm Toda & Nel-lo Abogados, who is acting as the court-appointed administrator for this insolvency proceeding. Kentra is therefore leading the administration process. However, Serrano retains her administrative powers and has the final say before presenting the company's award proposal to the judge overseeing the Brava Fabrics case. The company was founded in Barcelona in late 2014 by Ramón Barbero and Iván Monells. Monells stepped back from daily management in late 2024 but retained his stake in the company. It ultimately filed for administration on June 25. According to its founders, this was due to cost pressures and the impact of returns from the online channel—its main source of revenue—affecting the business's profitability.

In any case, under this delegation of authority, Kentra has now activated the bid reception phase for the acquisition of Brava Fabrics' production unit on its digital platform. They have stressed that this process is not a standard liquidation. Instead, the entire Brava Fabrics company is being sold as a going concern. They added that once the sale is complete, the winning bidder can begin operating immediately. Any interested party can submit a bid for the firm until 11:59pm on September 15. The new owner will acquire a brand with open stores, a fully operational online channel, and even existing stock in the warehouse.

An operation that attracts international investors

Since the bidding war for Brava Fabrics began, Kentra has informed us that several buyers have already shown interest in acquiring the company, both as a whole and in separate lots. They clarified that at this stage, only offers for the entire production unit are being considered. If an offer meets all the requirements, the brand will simply continue to operate under new ownership from September 15, retaining all or part of its workforce. After this date, if no offers for the entire company have been received, it will be sold off in lots.

Before reaching that point, the platform leading the procedure highlights the significant interest Brava Fabrics could attract from international buyers. This includes buyers from countries other than Spain, for whom Brava could be a perfect entry point into the country. It also includes Spanish investors and buyers, for whom the firm offers a key to rapid international expansion. This assertion is not made lightly. It is supported by the firm's assets and its results from the last fiscal year of 2025, which the company closed with a turnover of 3.9 million euros. Of these sales, 1.5 million euros were generated through the physical channel and the remaining 2.5 million euros came from the online channel, where 90 percent of sales are generated outside of Spain.

Given this distribution and operational structure, “the deal is attracting international buyers,” Kentra noted. Luis Saldaña, CEO of the platform, puts this into greater perspective. He highlights that the “Brava Fabrics case is not a closure,” but rather that of “a fashion brand built over more than a decade, with an international community and a direct-to-consumer channel.” He adds it is a fashion firm “that can continue to generate revenue and provide employment with the right owner.” Therefore, what remains to be seen, Saldaña adds, is whether “by September 15” it is “bought whole by someone, or if it ends up being broken up into lots.”

From the intangible value of the brand to its store network and e-commerce platform

Presented at this stage to interested parties as a “single, indivisible lot,” the assets of the production unit up for auction include, first and foremost, the “Brava Fabrics” brand. The name is registered in the European Union and the UK, and is also in the process of international registration in Switzerland, Japan and the US.

In addition to this intangible asset, the successful bidder would also acquire the “bravafabrics.com” domain; the company's operational online store; its marketplace accounts; its social media profiles, which have over 240,000 followers; the firm's design and print archive; its customer databases; its connections with suppliers in Spain and Portugal; the firm's positioning as a sustainable fashion label, which led to its B Corp certification; and its retail network of points of sale. Regarding these establishments, it is specified that the commercial premises are not included, as they are not owned by Brava Fabrics. However, the option to take over the current lease agreements for the five operational stores in Barcelona (El Born and Parlament), Madrid, Palma de Mallorca and San Sebastián is included. The lease for Brava's head office in Barcelona is also included. These assets, along with the current stock of finished products, furniture and equipment for stores and offices, and supplier relationships—all included as part of the production unit—would leave the winning bidder in control of an active firm with operational stores in “prime” locations and with already negotiated rents.

Completing the overview of this single lot, it is specified that certain items are excluded from the sale of the production unit. As previously mentioned, these include the store premises; rights to collaborations and the development of product lines under third-party licenses; and credits and debts owed by the company to the tax authorities and customers prior to the award. On this point, Kentra clarifies that, according to the terms of the Revised Text of the Insolvency Act, the buyer of the production unit will not assume any debt prior to the transaction—except in legally specified cases. They also add that the number of jobs retained will be determined by the commitment each interested party makes when submitting their bid for Brava Fabrics.

With a participation deposit of 25,000 euros

Given the assets of the production unit, interested parties must submit their bids for its acquisition directly through the Kentra digital platform. This can be done until September 15, 2026. A participation deposit of 25,000 euros is required, which will be deducted from the final price if the bid is successful, or returned within a maximum of 20 working days otherwise.

Other conditions of the process include a commitment to continue Brava Fabrics' activity for a period of two years. This is stated in the binding declaration that will be incorporated into each offer. The bids must also include content that proves the buyer's solvency, the accepted scope, the price and payment method, and the number of jobs they agree to take on. These aspects will be evaluated by Kentra before the bids are submitted to the administrator, who will then present them to the judge in charge of the case for final approval of the award. It is specified that the bids have no minimum price. The judge, as established by law, may award the purchase to a bid up to 15 percent lower than the highest one if it guarantees greater business continuity and job retention.

With this dynamic, “the highest bidder does not automatically win here,” Kentra explained. A “solvent industrial project competes with deeper pockets,” yes, but “added to that is the fact that each bidder decides in their offer which jobs they will take on and in which locations.” Everything is at stake in the fight for a distribution of assets, but in any case, “Brava Fabrics is not being dismantled: it is being transferred,” Kentra stated. After more than a decade of “building a fashion brand with its own design, an international community and a physical network in four cities,” they added, “all of that is still standing and is coming to the market in a single lot,” without the bidder having to assume the debt. “The ability to generate revenue is acquired, without the baggage that led the company into administration,” and with the added ease that its new “workforce is sized by the buyer.”