Seasalt explores sale as staycations lead to strong summer

Seasalt
Seasalt warned in January that profits will take a hit this year after months of store closures
// Seasalt is in early talks about about bringing in new investors
// The retailer witnessed a sales rise over the summer
// A sale could land the Chadwick family a payday as they remain the largest shareholders

Seasalt has put itself up for sale after a rise in sales over the summer, as travel restrictions led to an increase in domestic travel.

The lifestyle retailer is in early talks about about bringing in new investors.

A sale could land the Chadwick family a payday as they remain the largest shareholders, and could lead to an exit for BGF and Santander, which invested £16 million in the chain three years ago.


READ MORE: M&S signs deals with Phase Eight, Joules, Hobbs and Seasalt


The retailer sells anything from raincoats to knitwear and pyjamas, and now has 70 stores.

Its clothes are sold online in more than 150 countries, including via third-party websites such as Zalando and Marks & Spencer.

Seasalt warned in January that profits will take a hit this year after months of store closures.

It made sales of £75.3 million up from £65.6 million for the year to the end of February 2020, while pre-tax profit dropped to £679,000 from £2.4 million in 2019.

Chief executive Paul Hayes joined the company in 2013 after he ran the shoe brand FitFlop’s UK operations.

“Seasalt is enjoying a strong year and has ambitious plans for the future,” A Seasalt spokesman said.

“As part of those plans, we are in the very early stages of exploring a number of options to support further online and offline growth both in the UK and internationally.

“We have no further information to share at this time.”

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