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Bankrupt Renewcell receives multiple bids

Things aren’t over yet for Renewcell, as the Swedish textile recycling company is said to have received “multiple bids” for its business and assets. The bankruptcy trustee confirmed that several purchase offers had been submitted for the business and estate assets ahead of the deadline on March 28. All offers are said to be undergoing a thorough...

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RetailFeatured

Half of global luxury shoppers buy at discount

Half of global luxury shoppers are partial to a bargain. According to the YouGov Affluent Perspective’s Global Luxury Retail Report 2018, half of all global luxury shoppers state they “only buy luxury when it is discounted.” The report, which focuses on the 56 percent of global affluents shoppers who purchase luxury products and services across...

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Management

Henri Lloyd acquired out of administration

British sailing apparel brand Henri Lloyd has been bought out of administration by Aligro UK Limited, in a deal which has led to 128 jobs being axed. The clothing retailer, best known for its sailing and water resistant apparel, appointed Chris Ratten and Jeremy Woodside from RSM Restructuring Advisory LLP as joint administrators of Henri-Lloyd...

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Report

Is Orlebar Brown headed for a 50 million pound sale?

London - Luxury British swimwear label Orlebar Brown, is preparing to make a splash in unchartered waters as it reportedly gears up for a 50 million pound sale. The high-end label, best known for its tailored swimming trunks favored by the likes of Ryan Reynolds, Michael Fassbender and David Gandy, is said to have hired business advisors from...

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Report

Private equity firms prepare final bids for Shop Direct

Liverpool-headquartered Shop Direct is set to receive binding offers from three private equity funds. Apax Partners, BC Partners and Hellman & Friedman are said to be preparing their final offers for the online retailer, which is currently valued at 3 billion pounds according to reports from Reuters. The three companies are understood to have...

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Business |UPDATE

​Kate Spade asks for more time following Coach bid

London - Kate Spade & Co. is said to need more time to mull over Coach's take over bid. The latter reportedly made an offer to take over the US premium handbag label last week, although it remains unclear how much Coach has offered. By taking more time to go over the sale process gives potential buyers more space to assess Kate Spade's first...

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Report

Hobbs owner 3i reportedly prepares to offload the retailer

London - Private equity group 3i is said to be preparing women’s wear retailer Hobbs for sale. The premium label, a favourite of the Duchess of Cambridge, could sell for as much as 80 million pounds, according to a report from the Sunday Times. 3i is said to be close to hiring investment banker NM Rothschild to oversee the sale, after owning the...

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Report

Online fashion marketplace Pret a Portobello goes up for sale

London - Online fashion marketplace Pret a Portobello is currently up for sale. The fashion e-tailer, which allows independent fashion brands and designers the freedom to sell their products online via 'market stalls' on its site, sale will be handled by Metis Partners, an intellectual property consulting firm. The intellectual property assets...

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ManagementFeatured

American Apparel taps investment bank to explore sale options

London - Although the door may have closed on American Apparel bankruptcy the story continues on, as the retailer forges on with its restructure and reorganization plan. However, now things appeared to have taken a sudden twist (or perhaps not so sudden) as American Apparel is said to have hired investment bank Houlihan Lokey to explore options...

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Management |UPDATE

BHS international portfolio and online sold to Al Mana Group

London - Although collapsed department store group BHS is likely to fade from the British high street, it will live on overseas as its international portfolio has been acquired by a Qatari retail group. BHS administrators Duff & Phelps have confirmed the sale of the collapsed retailer overseas business and online operations to Al Mana Group. The...

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Management

Tesco sells stake in non-core asset Lazada to Alibaba

British retail giant Tesco has begun its sale of non-core assets as it focuses on reviving its main grocery arm, offloading approximately half of its stake in Lazada to e-commerce heavyweight Alibaba for a cool 129 million US dollars (90.6 million pounds). The UK supermarket chain, which previously held a 19.6 percent stake of the South East...

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Management |UPDATE Featured

Shandong Ruyi signs deal to acquire SMCP

Shandong Ruyi has signed a deal which would see the Chinese textile company acquire a controlling stake in fashion group Sandro, Maje and Claudie Pierlot (SMCP), valued at an estimated 1.3 billion euros. Shandong Ruyi confirms acquisition of SMCP News of the impending deal broke earlier this week, Evelyne Chetrite, founder and managing director...

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