Fat Face eyes hunt for new buyer after recruiting bankers
Clothing and accessories retailer FatFace has recruited bankers to mull a sale of the company, it has been reported.
The British retailer has hired Rothschild to explore the brand’s options, The Sunday Times reported.
It comes two years after its private equity owner relinquished it to lenders after suffering unbearable debts during the pandemic.
After a £360m acquisition in 2007, Bridgepoint owned FatFace until 2020. Lenders including Goldman Sachs and Lloyds Bank took over the company, reducing debts by £146.8m to £25.6m.
After a debt refinancing programme, FatFace has secured a £25m revolving credit facility until 2027.
It has seen sales buoyant compared to pre-pandemic levels, posting some £125m sales in the six months to 27 November. This was a four per cent jump on pre-Covid levels.