Agent Provocateur ‘on brink of administration’

Tue, 17 Jan 2017 | ADMINISTRATION

Lingerie brand Agent Provocateur could be heading for administration after suffering poor sales and accounting problems, reports say.

According to the Guardian a pre-pack administration is regarded as one of the most sensible options for the business.

Potential buyers are thought to include private equity house Lion Capital and investment firm Alteri, with Sky News listing French fashion brand Etam and British chain Sports Direct as also interested.

It’s thought that its current owner, private equity firm 3i, is looking for around £30 million for the brand, which was founded by Joe Corre, the son of designer Vivienne Westwood, and his ex-wife Serena Rees.

Agent Provocateur has been hit by a number of problems and last year 3i wrote down the value of its 80 per cent stake in the brand by £39 million. The owner is said to have been exploring sale options since last year.

Sky News reported that AlixPartners has been appointed as principal adviser on the sale process, replacing investment bank Rothschild.

Last year, 3i said Agent Provocateur had been "impacted by declining luxury spend in a number of its key markets", the effect of which had been exacerbated by "the inconsistent execution of its recent store expansion programme and the discovery of accounting issues".‎

Find businesses in administration.


Share this article



Latest Businesses for Sale

Consulting Engineers Focused on the Built Environment
London, UK

Unusual opportunity to acquire this national and well established, full service Mechanical & Electrical consulting engineering company. Offers invited.

Asking Price: £2,700,000
Turnover: £5,800,000

LEASEHOLD


Freight Brokerage Services
UK Wide

Works with a network of reliable hauliers to provide comprehensive and reliable logistics solutions on a national basis. Offers invited.

Asking Price: Offers Invited
Turnover: £420,000

RELOCATABLE


Food Manufacturer Specialising Flatbread Products
North of England, UK Wide

Has established a prominent position with clients in its industry due to its prestigious portfolio. Operates from two leasehold premises. Offers invited.

Asking Price: Offers Invited
Turnover: £671,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
23
 
May
 

Fintech company Loot collapses into administration | ADMINISTRATION

After failing to secure further backing from the Royal Bank ...

 
22
 
May
 

Spike in M&A activity in the education sector | BUSINESS SALE

In recent months, the education sector in the UK has witness...

 
22
 
May
 

Jamie Oliver restaurant empire collapses into administration | ADMINISTRATION

Celebrity chef Jamie Oliver, who shot to fame after campaign...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
26
 
Mar
 

Prezzo announces closure of 94 restaurants | BUSINESS SALE

The Prezzo restaurant chain has announced that creditors hav...

 
11
 
Apr
 

Historic fashion chain Jaeger falls into administration | ADMINISTRATION

Historic fashion chain Jaeger, which has counted models, roy...

 
28
 
Mar
 

Poundland puts 99p Stores into administration | ADMINISTRATION

Poundland has placed 99p Stores - the rival discount chain i...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources