Blog: Retail magnate Paphitis eyes La Senza deal
Michelle Russell | 2 July 2014
It looks like British retail magnate and Dragons Den panellist Theo Paphitis might be planning to take control of UK lingerie chain La Senza once again, after selling it off in 2006.
The chain's UK operations were this week placed into administration for a second time, despite sustained efforts to make the businesses more commercially viable.
La Senza was acquired in 2012, but has experienced difficult trading conditions. It previously went into administration in January 2012, closing more than 80 branches.
It seems Paphitis, however, might be planning to snap up the La Senza stores for his own lingerie brand Boux Avenue, reports have suggested.
Paphitis, who also owns stationery retailer Ryman and hardware chain Robert Dyas, bought La Senza in 1998 and turned its fortunes around, before selling it to private equity firm Lion Capital in 2006 for GBP100m.
He told The Daily Telegraph today: "We've said we'll help and see if there's anything we can do. It was my baby so it's hard to see it floundering.
"We don't know what the problem is yet. It was an incredibly profitable business [in 2006] and remained so for several years afterwards."
Paphitis, who also owns stationery retailer Ryman and hardware chain Robert Dyas, certainly knows the business and has build it into a success story once. Maybe he is the right person to turn its fortunes around for a second time.
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