UK: Debenhams, EWM in for Jane Norman – reports
Struggling fashion retailer Jane Norman is attracting interest from a number of suitors, including Debenhams, Edinburgh Woollen Mill, Aurora Fashions and Sun Capital, according to reports.
The chain, which has about 90 stores across the UK and a number of concessions in Debenhams stores, has been put up for sale by the 15 banks which control the vast majority of its shares.
It is understood that Debenhams has tabled a bid for the Jane Norman trading name and stock, but not the stores, mirroring the kind of deal the department store did to acquire the Principles and Faith brands.
However, Edinburgh Woollen Mill is reported to be keen to keep a number of the stores, as is Aurora, owner of Oasis, Coast and Karen Millen.
Meanwhile, private equity firm Sun Capital Partners is also believed to have expressed interest in the fashion retailer.
Reports suggest that Debenhams may be in a strong position to win the race, since it would be able to terminate Jane Norman’s concessions in its stores if a rival bidder wins control.
None of those involved were willing to comment on the reports.
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