Wed, 28 Aug 2019 | BUSINESS SALE
The Folli-Follie Group (FF Group) has announced today that it is exploring sales options for its subsidiary group Links of London following a series of financial difficulties.
Professional advisory firms Deloitte and Savigny Partners have been appointed to pursue a potential sale of the British jewellery brand as part of a pre-pack administration, all whilst a post-transaction restructuring plan is put in place to protect the business from future insolvency.
Prior to even considering a sale, the brand had experienced a series of business scandals in Asia, and instated a new CEO to assist a business transformation.
A statement from FF Group said: “The company can confirm that it has appointed Deloitte and Savigny Partners to investigate the option of a full sale of the business, but that is the extent of their mandate at this point. Links of London remains in the process of a turnaround plan that the company continues to support.”
In September 2018, Links of London launched a five-year strategic plan to facilitate a turnaround, achieving a one-off saving of £2.1 million and an annualised saving of £5.1 million by closing 15 US stores, and cutting overhead costs and five non-strategic stores in the UK.
As a result, the brand reported a 10 per cent increase in sales through its stores, in comparison to the -19 per cent during the same time last year. An increase from 4 per cent to 11 per cent in sales was also recorded thanks to the introduction of new collections.
In addition to this, Links of London accounts showed a full retail gross margin being up by 2.6%pp, and anticipates its next full-year trading profits in the UK to be up by 14 per cent.
Products include table tops and bases, highchairs and stools.Operates with over 150 clients, all of whom provide reliable and repeat business.Members of the FIRA trade association.Multiple opportunities for growth.Offers invited.
LEASEHOLD
Functions as a one-stop shop for all of its clients’ requirements,providing complete solutions.With an average length of service of 12 years, all staff members boast strong levels of knowledge, enabling the business to forge a strong working environm...
FREEHOLD
The business offers an online retail service for a wide and varying range of branded homeware, giftware and beauty items of exceptional quality. They specialise in selling British and European brands throughout the world. This is an ideal business op...
FREEHOLD
|
21
|
|
Jan
|
MBO at Newcastle market research company | MBO/MBI
Newcastle-based market research company Explain Market Resea...
|
20
|
|
Jan
|
Target Healthcare embarks on acquisition spree | BUSINESS SALE
Target Healthcare has completed the acquisitions of a develo...
|
17
|
|
Jan
|
Sample book and shade card manufacturer acquired from administration | BUSINESS SALE
The business and assets of Yorkshire-based display products ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
11
|
|
Oct
|
Administrators called in for Links of London | ADMINISTRATION
The most recent company to fall victim to the tough trading ...
|
26
|
|
Sep
|
Company behind the ‘Boris Bus’ enters administration | ADMINISTRATION
Wrightbus, the manufacturer behind the revived Routemaster a...
|
13
|
|
May
|
Historic West Yorkshire manufacturer enters administration | ADMINISTRATION
A construction industry supplier based in West Yorkshire has...
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