Jigsaw says it has not started any formal process around a possible sale

Jigsaw says it has not started any formal process around a possible sale

Jigsaw has denied reports the UK fashion retailer is currently in talks with advisers over a potential sale of the business, saying it "has not started any formal process around a possible future sale". 

According to a report in The Sunday Times, John and Belle Robinson, who founded Jigsaw in 1972, have held talks with investment banks including Rothschild in recent weeks. They are said to be considering the sale of a majority or minority stake. 

The report added that the company is expected to be worth GBP50m (US$70.8m). 

But when contacted by just-style today (7 March), a spokesperson for the company said the reports were "wholly inaccurate". In a statement, CEO Peter Ruis said: "Jigsaw has not started any formal process around a possible future sale and there has been no appointment of an adviser. We have stated, on the record, that at some point we may seek a sale, but that moment is not now."

In January, the retailer posted another "record" Christmas with double-digit sales growth and significant margin improvement. 

During the five weeks to 2 January, which included Black Friday and Cyber Monday, total sales grew 19% year-on-year, with like-for-like sales rising 13%. Margin was up significantly on the year. 

Jigsaw posts another "record" Christmas performance