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

High-Technology Business
UK Wide

Focused on advances in energy storage, energy harvesting motor and drive systems and software. Several projects are approaching proof-of-concept stage and will be ready for commercialisation in the near future. Driven by a highly experienced and qual...

Asking Price: Offers Invited
Turnover: £5,000,000

FREEHOLD


Distributor of Powered Lift Platforms
UK Wide

Specialises in the supply, installation and servicing of industry-leading, mainly pneumatically operated personnel lifting equipment for the industrial and transport sectors. Operates directly as the sole UK and Ireland distributor for an internation...

Asking Price: Offers Invited
Turnover: £1,000,000

LEASEHOLD


Technology Company with Unique Reusable Core Business for the Newspaper Trade (Fast Sale)
South East, UK

Interested parties are required to submit an expression of interest by 5pm on Tuesday 30th July 2019 with offers to be provided by 3pm on Thursday 1st August 2019. An opportunity exists to acquire the business and assets of this division of a highly...

Asking Price: Offers Invited
Turnover: £300k - £1m


View more businesses for sale

News Search

Latest News

 
23
 
Jul
 

Award-winning American diner put up for sale | BUSINESS SALE

An award-winning 50s-style American diner in Albert Village,...

 
22
 
Jul
 

Ayr Artwork firm goes into administration | BUSINESS SALE

The Steve Brown art company has announced that it has entere...

 
19
 
Jul
 

Outdoor activity centre completes MBO | BUSINESS SALE

An outdoor water activity centre has been successfully sold ...

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