The household which has owned Ann Summers, the lingerie and intercourse toy retailer, for greater than half a century is to discover choices for the enterprise which may embody a partial or majority sale.
Retail business sources stated this weekend that Ann Summers had been in talks with Interpath for a number of weeks, though it has but to be formally instructed.
The chain, which was based in 1971 and purchased by David and Ralph Gold when it fell into liquidation the next 12 months, trades from 83 shops and employs over 1,000 folks.
The household continues to personal 100% of the fairness within the firm.
Sources stated that some dilution of the Golds’ curiosity was possible, though it was removed from sure that they’d promote a controlling stake.
“As a family-owned business, we are in a fortunate position and have committed investment for over 50 years.
“This has created a strong and resilient enterprise.
“We are exploring a number of options to further grow the brand into 2025 and beyond.”
Ms Gold is amongst many senior retail figures to publicly criticise the tax adjustments introduced within the Finances unveiled by Rachel Reeves, the chancellor, final month.
The British Retail Consortium printed a letter final weeks signed by scores of its members wherein they warned of value rises and job losses.
Non-public fairness companies and different retail teams are anticipated to specific an curiosity in a takeover of Ann Summers.
One attainable contender may very well be the Frasers billionaire Mike Ashley, who already owns upmarket rival Agent Provocateur.
Any formal course of is unlikely to yield a consequence till subsequent 12 months, with the important thing Christmas buying and selling interval the principal focus for the shareholders and administration through the subsequent month.
Ann Summers is one in every of Britain’s best-known retailers, with a profile belying its comparatively modest measurement.
Within the early Nineteen Eighties, Jacqueline Gold, the then govt chairman who died final 12 months, conceived the concept of holding Ann Summers events – a key milestone within the firm’s development.
At its largest, the chain traded from practically twice the variety of retailers it has as we speak, however like many retailers was compelled to hunt lease cuts from landlords after weak buying and selling through the COVID-19 pandemic.
This week, The Every day Telegraph reported that the Gold household had stepped in to supply a number of million kilos of extra funding to Ann Summers within the type of a mortgage.
Vanessa Gold – Jacqueline’s sister – additionally requested bankers to discover the sale of a part of the household’s stake in West Ham United Soccer Membership final 12 months.
That course of, run by Rothschild, has but to lead to a deal.
Interpath declined to remark.
