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.
This well-established scrap vehicle yard in Essex offers a unique opportunity to acquire a business with a significant stock of decommissioned parts and panels, alongside essential equipment such as forklifts and heavy demolition plant.
Opportunity to acquire a well-established engineering product and equipment distributor located in the heart of the West Midlands.
Presenting an exceptional opportunity to acquire a well-established specialist joinery business located in Southport, Merseyside.
01
|
Jul
|
PE-backed accountancy swoops for 65-strong East Midlands firm | BUSINESS SALE
Private equity-backed accountancy Duncan & Toplis has acquir...
01
|
Jul
|
Manchester-based aerospace firm rescued with pre-pack deal | BUSINESS SALE
B&H.PT Limited, a Manchester-based aerospace manufacturer, h...
01
|
Jul
|
Seafood and pork supplier acquires food manufacturing business | BUSINESS SALE
Sofina Foods Europe, a North Yorkshire-headquartered supplie...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.