Fashion chain All Saints 'up for sale'
Sunday 27 February 2011
High street fashion chain All Saints has been put up for sale with price tag worth a potential £140 million, it was reported today.
The retailer is said to have appointed Ernst & Young to advise it on the sale process, according to The Sunday Telegraph.
All Saints has 63 stores and 47 concessions across the UK, Europe, America and Russia.
The group - which has been expanding rapidly in recent years - is owned by retail entrepreneur Kevin Stanford, with significant minority stakes held by collapsed Icelandic banks Kaupthing and Glitnir.
It is thought that administrators of the Icelandic groups were behind the push to put All Saints up for sale to realise investments in a host of UK retail assets.
British brands owned or part-owned by failed Icelandic banks - such as House of Fraser, frozen food chain Iceland and Karen Millen owner Aurora - are also reportedly undergoing ownership overhauls ahead of possible stake sales as Iceland gears up to capitalise on the assets.
Ernst & Young is understood to have already drawn up a list of would-be investors for All Saints, with Mr Stanford expected to roll over part or all of his stake in the event of a sale.
The group was founded in 1994 and bought by Mr Stanford in 2003.
Mr Stanford also co-founded the Karen Millen chain with his ex-wife of the same name.
Neither All Saints nor Ernst & Young were available for comment.
- 1 Malaysia Airlines MH17 crash: Pro-Russian rebel 'admits to shooting down plane'
- 2 Israel has discovered that it's no longer so easy to get away with murder in the age of social media
- 3 Israel-Gaza conflict: The myth of Hamas’s human shields
- 4 Amy Winehouse unpublished 2004 interview: ‘Ten years from now I’ll be 30, so I’ll maybe have one baby’
- 5 Dutch paedophile club to fight their ban at the European Court of Human Rights
Lana Del Rey: 'I have slept with a lot of guys in the industry'
Peaches Geldof cause of death: 'Heroin addict' socialite had taken fatal dose of drug, inquest concludes
Peaches Geldof inquest: Tragic final moments of socialite's life reveal she lied to husband about failed heroin tests
Israel-Gaza conflict: The myth of Hamas’s human shields
Malaysia Airlines MH17 crash: Was a Russian-made missile really parked in this quiet square?
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
Malaysia Airlines MH17 crash: victims’ bodies bundled in black bags and loaded onto trains
iJobs Money & Business
£350 - £400 per day: Orgtel: PMO Analyst - Banking - London - £350 -£400 per d...
£300 - £350 per day + competitive: Orgtel: Cost Reporting Manager - MI Packs -...
£35000 - £40000 Per Annum plus 23 days holiday and pension scheme: Clearwater ...
£475 - £525 per day: Orgtel: Test Lead, London, Investment Banking, Technical ...