Waterstones owner joins Majestic Wine’s £100m store network auction

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Waterstones Majestic Wine
// Waterstones owner gatecrashes Majestic Wine £100m UK store network auction
// Elliott Advisors has placed a bid for Majestic Wine’s 200 outlets
// Majestic Wine CEO Rowan Gormley is expected to announce an update this Thursday

Waterstones parent company Elliott Advisors has joined rival suitors for Majestic Wine’s store network across the UK.

Elliott Advisors, who recently bought US book retailer Barnes & Noble for £534 million, has gatecrashed Majestic Wine’s £100 million store-network auction, Sky News reports.

The investment firm has placed a bid for Majestic Wine’s 200 outlets.

Elliott Advisors has high hopes for achieving a manageable price for Majestic Wine, as the wine retailer shifts its focus to its online brand, Naked Wines.

Meanwhile, Majestic Wine chief executive Rowan Gormley is expected to announce an update on Thursday.

Furthermore, the news follows Majestic Wine’s recent announcement that it would change its brand name to Naked Wines.

Rothchild has been appointed by Majestic Wine to act as adviser during the sale process.

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