Wednesday, April 21, 2021

Potential buyers circle Oasis, Coast & Warehouse chains

Indian entrepreneur

Investors are already eyeing off a potential acquisition of high street retailers Coast, Warehouse and Oasis after they accounced a review of the business last week.

According to ThisisMoney, the three brands are likely to be sold as a group – known as the Aurora Fashion Group – due to the structure of its business in that they share head office functions.

The three retail chains, which are currently under the stewardship of PwC, are said to have received special interest from private equity company Alteri Investors, ThisisMoney reported.

The Aurora Fashion Group‘s former owner Baugur went under during the 2009 financial crisis, and its bank – Iceland-based Kaupthing – must now offload its assets to potential buyers by early 2017.

PwC was appointed last week conduct a “strategic review” of the business, which may include a sale that sees Oasis, Coast and Warehouse valued at a combined £100 million.

It is thought that the collective staff of the UK retailers affected by this is over 5000.#

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