Wed, 14 Dec 2011 | ADMINISTRATION
Lingerie retailer La Senza, owned by private equity firm Lion Capital, has appointed KPMG to assess its restructuring options.
A move into administration, a CVA that would involve closing some stores, or securing new funding are some of the options to be considered. A break-up is another option.
Lion Capital bought La Senza from entrepreneur Theo Paphitis for £100 million in 2006. Mr Paphitis, who appears in Dragons’ Den on TV, established a new lingerie firm this year called Boux Avenue.
Over 2,600 people are employed at the 158 La Senza stores across the UK, which sell women’s lingerie and nightwear. It has won several awards for its products over the past decade including ’Sexiest Lingerie’ at the Cosmopolitan High Street Fashion Awards 2011.
La Senza reported a turnover of £140 million for its last financial year.
Speaking to the Financial Times back in 2008 Mr Paphitis said of his purchase of La Senza: “I paid £1 and two packs of Benson & Hedges for it 10 years ago, which gave me 60 per cent of the company.
“It was losing £10m a year at the time. I sold it two years ago for more than £100m. We made a profit in year one.”
The company utilises its trucks and specially designed trailers to undertake the haulage of steel materials, including wide, slit and perforated coil steel; steel blanks, sheets and plates; rolled steel products; and machinery for the steel industry....
A profitable and well-established engineering business dedicated to delivering exceptional precision parts with unparalleled quality. Specialising in complex, high-tolerance components, this company caters to a wide range of industries, including las...
A well-established off licence and convenience store located in the heart of Stoke-on-Trent. This profitable business has been serving the local community since 2003 and boasts a strong, loyal customer base. Specialising in a wide range of wines, bee...
FREEHOLD
14
|
Nov
|
ROL Cruise sets sail on employee ownership journey | BUSINESS SALE
Independent cruise retailer ROL Cruise has marked its upcomi...
14
|
Nov
|
Timber groups merge to carve out new acquisitions | MERGER
Two timber groups have joined together to form a £80 m...
14
|
Nov
|
Swanton Care buys mental health services peer Oaklands Support | BUSINESS SALE
Private equity backed Swanton Care has bought counterpart Oa...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.