Links of London owner Folli Follie hires advisers to weigh up possible sale
The owner of Links of London has confirmed that it has drafted in advisers to weigh up a sale of the troubled jewellery group.
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Folli Follie, the Greek owner of the retail chain, said today that it has told Deloitte and Savigny Partners to look into the option of finding a buyer for Links, which “remains in the process of a turnaround plan that the company continues to support”.
Last week Sky News reported that the embattled group’s owner is on the hunt for a rescue offer by this week, with sources telling the broadcaster it was “almost inevitable” a sale would take place in a pre-pack administration or that a post-transaction restructuring would be required.
In recent months Links has been tipped as one of a string of retailers mulling a company voluntary arrangement (CVA), a controversial insolvency process used to slash rents and close unprofitable stores.
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The upmarket brand has pulled out of the US market, shutting its 15 stores across the pond as part of a turnaround effort to stave off insolvency.