Women's fashion brand owner seeks sale, or risks administration
The pressure is on Style Group Brands, the company behind Jacques Vert, Dash, Eastex, Precis Petite and Windsmoor, with over 1,000 employees’ positions hanging in the balance.
A retail sector source said all options to include talks with potential buyers were ongoing, with an outcome expected next week.
The group had brought in KPMG to consider a sale or restructuring of the company two months ago due to the ongoing volatile retail environment. And it is thought that if the company does enter administration KPMG will be at the helm.
Trading across UK, Europe and Canada from over 1,850 outlets, Style was created out of the merger of Jacques Vert and Irisa Group, and has concessions in Debenhams and House of Fraser, as well as John Lewis’ online business.
The group rebranded as Style Group Brands in September last year, a few months after Shaun Wills came on board as the new chief executive.
There’s a lot of similar activity going on in the retail sector, with the parent company of Oasis and Warehouse up for sale, as well as Hobbs. While Joy has recently been bought out in a pre-pack administration back to its owners, and Jaeger now under new ownership after being bought out of administration.
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