// 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.
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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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