All Saints chain confident of deal

Fashion chain All Saints is set to complete a deal to secure its long-term future within the next week, according to its chief executive.

A consortium led by American company Goode Partners is on course to buy a majority stake after previous owner Baugur, an Icelandic investment group, collapsed.

It had been feared that if no deal could be reached All Saints' main lender Lloyds could force the business into administration. "I believe the transaction will complete within the next seven days," All Saints CEO, Stephen Craig, said.