White Stuff seeks fashionable ways to raise funding
Monday 04 April 2011
The fashion brand White Stuff is reported to be preparing for a sale or flotation. The majority shareholders and founders Sean Thomas and George Treves, who control 75 per cent of the equity, are rumoured to be considering which adviser to appoint with a view to selling stakes in the businessin the next 18 months.
Sally Bailey, chief executive of White Stuff, is quoted as saying the timing of a sale would depend on conditions on the high street, but added that the owners were keen.
The firm was set up in 1985, reputedly with one van selling T-shirts in the Alps. Last year turnover jumped from £58.4m to £83.7m, while profit before tax was up from £9.2m to £14.6m. Like other clothing retailers it has been affected by the VAT hike and spiralling world price of cotton
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