Morgan, the women's fashion label and retailer is up for sale, according to French media reports quoting the company's CEO Dominique Damon.
 
Morgan, which has been owned since 1998 by investment fund Apax Partners, specialises in clothing for the 18-30 age bracket.
 
When contacted by just-style, both Morgan and Apax Partners declined to comment on the press reports.

According to Apax's 2007 annual report, which contains the latest available financial  figures for Morgan, the company posted revenues of EUR189m (US$ 254.67m) for the fiscal year 2006/2007 (ended in June 2007), up 8% over the previous year and an operating income of EUR12m.

The label's collections are sold in 55 countries by exclusive distributors through a network of 600 Morgan-branded points of sale. In France, the group directly manages 128 outlets.
 
One report said that Morgan's problems appeared to have started in summer 2006 when the company acquired the activities of its bankrupt UK distributor while it has also had to cope with an on-going dispute with its former suppliers in Tunisia.

By Stuart Todd.