UK fashion retailer All Saints is available to purchase for around £140 million, according to a report in The Sunday Telegraph yesterday.
All Saints has an extensive international presence with 63 stores and 47 concessions across the UK, Europe, America and Russia.
The group’s current owner is retail entrepreneur Kevin Stanford with minority stakes held by collapsed Icelandic banks Kaupthing and Glitnir.
A need for the administrators of the Scandinavian financial institutions to recoup on previous investments made in the UK is thought to be behind the move.
Other British retailers also part owned by the Icelandic banks which are believed to be undergoing ownership assessments include department store chain House of Fraser, grocer Iceland and fashion group Aurora.
Ernst & Young has been appointed to advise on the sale process and is thought to have already drawn up a list of potential investors.
Last year Head of Retail at Lloyds TSB Charles Lamplugh explained to Retail Gazette that he was working with All Saints and that it formed part of a book of “good retailers” managed by the bank.