Hilco closes in on deal for Lakeland

Hilco Capital is reportedly getting close to a deal to fund a management buyout of Lakeland, the family owned kitchenware retailer.

According To Sky News, the investment firm and Lakeland’s management are in advanced talks with shareholders regarding a deal to take control of the business.

Headquartered in Windermere in the Lake District, Lakeland has around 60 shops in the UK and employs approximately 1,000 people.

Sky News reported in January that the retailer had appointed Teneo as financial advisers to assist it in exploring strategic options for the business. In addition, accountancy firm PricewaterhouseCoopers has been advising Lakeland’s main lender HSBC, which is expected to end its involvement with the business.

Over the last few months, Lakeland has been in discussions with potential buyers including Modella Capital, the new owner of WH Smith. It has also been seeking new funding as it faces cost headwinds including a rise in employers’ national insurance.

Founded in 1964 by Alan Rayner, Lakeland is now controlled by his three sons.

Angela Beevers Director of Content & Events Strategy

Angela Beevers is Director of Content & Events Strategy at The Retail Bulletin, where she has worked since 2011. She leads the publication's news team and oversees its daily coverage of the UK retail sector, from breaking developments to the early-morning release of retailers' trading updates and financial results. Over more than 15 years at The Retail Bulletin, she has interviewed many of the industry's most innovative founders and leaders. She also shapes content for The Retail Bulletin's events and leads delegate engagement for its most high-profile events. Her areas of focus include: Retail news · Trading updates and financial results · Retail leadership · Industry events

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