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Alexon in takeover discussions as sales fall

British fashion brand Alexon has confirmed that it is considering selling the company as one of a number of restructuring options after sales slumped in August.

CITY & CORPORATE

Alexon in takeover discussions as sales fall

British fashion brand Alexon has confirmed that it is considering selling the company as one of a number of restructuring options after sales slumped in August.

Alexon, which owns six brands including Kaliko and Ann Harvey, said sales at stores open more than a year fell 9%  in the first three weeks of August due to "very difficult retail and economic conditions".

Although like-for-like sales improved to 1% down in the final week in August, Alexon said that it expected its full-year profits to be well below expectations.

The company said: "The board confirms that it continues to actively explore a number of options for a more appropriate capital structure. One of the options under review is a possible offer for the issued share capital of the company." 

Alexon said it was in discussions with more than one party but no  formal proposals had been received.

Tha brand's total sales for the six months to 30 July were down 8%.

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