Lingerie retailer Agent Provocateur may lose its new chief executive as discussions take place with its private equity owner 3i.
Fabrizio Malverdi, who was drafted in last April in an attempt to turn around the struggling retailer’s financial situation, is believed to be in discussions with the company‘s owners about his future as chief executive.
Following an accounting scandal late last year which is now being investigated by KPMG, the lingerie retailer‘s value plummeted by £39 million.
Some sources offered a value estimate for the company at just £15 million thereafter.
READ MORE: Agent Provocateur begins challenging sale process
Earlier this month it was revealed that 3i, which bought the retailer in 2007 for £60 million, was considering its sale.
Last year’s scandal saw a major boardroom shuffle take place, and the departure of chairman Chris Woodhouse.
Malverdi’s role is reportedly up in the air due to a new investor being secured.
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