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FatFace up for sale

Fashion brand FatFace has hired investment bankers to oversee its sale, after a bounce back in post-pandemic sales. Financial advisory group Rothschild has been appointed to… View Article

FASHION RETAIL NEWS UK

FatFace up for sale

Fashion brand FatFace has hired investment bankers to oversee its sale, after a bounce back in post-pandemic sales.

Financial advisory group Rothschild has been appointed to explore options for the business, which was taken over by its lenders in a debt-for-equity swap in 2020 to help it get through the pandemic.

According to The Sunday Times, the search for a new buyer comes as a result of sales returning to pre-pandemic levels.

FatFace reported a sales jump of four per cent on pre-pandamic levels in the six months to November 27, 2021. More than a third of sales were made online.

The retailer reportedly wants e-commerce to account for 70 per cent of total sales in the next five years.

Private equity firm Bridgepoint purchased FatFace for £360million in 2007 and owned the chain until mid-2020. This is when Alcentra, Goldman Sachs and Lloyds Bank took over in a debt-for-equity swap.

The deal reduced debts by £146.8million to £25.6million and enabled FatFace to continue trading throughout the pandemic.

 

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