- Huw Hughes
British premium fashion retailer Jigsaw has reportedly called in
advisers to run a strategic review of the company, a process that could
result in a sale.
David Ross, the owner of Jigsaw who rescued the company in 2018, has
called in two firms to weigh up options for the high street retailer, Sky
News reports. KPMG will oversee rent negotiations with landlords, while
Cavendish Corporate Finance will work on a potential sale process or the
recruitment of a new external investor.
“We are confident that Cavendish and KPMG are the right partners to
undertake this strategic review of our business,” a Jigsaw spokesperson
told Sky. “Jigsaw is a valued British heritage brand and the Board is
determined to do all it can to steer the company and its staff through this
incredibly challenging time.”
The Covid-19 pandemic has wreaked havoc on physical retailers in recent
months. Just this week, reports emerged that British high street stalwarts
Marks & Spencer, Ted Baker and Harvey Nichols will all cut jobs as they
look to soften the financial blow of store closures during lockdown.
Other companies like Oasis and Warehouse, Cath Kidston, Laura Ashley and
Debenhams have fallen into administration in recent months.
Photo credit: Jigsaw