Jigsaw on the market for new owner

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Jigsaw sale

Jigsaw could potentially have a new owner by the end of this year, as the fashion retailer begins to liaise with potential buyers or investors.

According to Retail Week, KPMG has been appointed by Jigsaw’s controlling shareholder and founder John Robinson to explore options for its future, including the sale of a majority or minority stake.

A Jigsaw spokeswoman confirmed that discussions have taken place, but no official sales process has commenced.

“There have been a number of approaches directly to Jigsaw, around the purchase of a minority or majority stake,” she said.

“No sale process has been activated but we continue to have conversations with interested parties.”

Sources told Retail Week that Jigsaw could have new owners before Christmas.

The retailer operates around 80 stores in the UK as well as around 50 concessions in various department stores.

It also has concessions in Bloomingdales in the US and standalone stores in Australia and The Netherlands.

Last year, its profits grew by 11 per cent to £6.2 million, while sales went up by eight per cent in £94.7 million.

Earlier this year it paid £493,000 in total dividends to staff as part of a new loyalty scheme and share plan.

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