The $175 million deal includes the Emeril Lagasse brand.
The U.K. online marketplace and retailer said it will continue to promote indie designer brands.
Byland was set up by the brand’s Chinese franchise partner, Rebecca Feng.
The move comes amid Sir Philip Green’s ongoing restructuring of the retail group.
All stores in North America went dark starting on Saturday and 93 employees were let go. Unions have a strike planned for Monday outside the Florence headquarters.
The Florence-based company is turning to the Court of Milan to continue to operate.
There is speculation that Mayhoola for Investments wants to retreat from the luxury fray.
Unions have announced a strike will take place on April 1.
Garancia offers 38 premium facial and body skin-care products sold through French pharmacies.
Sources say Philipp Plein has distanced himself from negotiations as Paul Surridge on Friday no longer listed his role as creative director of the brand on his Instagram account.