Ghost close to rescue deal

Ghost was on the brink of finalising a rescue deal to stave off administration as Drapers went to press.

The identity of the buyer was unclear but a source close to Ghost said the business was set to receive a significant cash injection to secure its future.

All the premium womenswear retailer's stores are expected to stay open and there are unlikely to be any redundancies.

Ghost's future has looked uncertain since the start of the month, after a major investor pulled the plug on funding for the business and posted a notice of intent to file for administration, as exclusively revealed by Drapersonline.com.

However, Ghost is understood to have attracted a significant amount of interest from potential backers which granted it a short-term reprieve from administration.

The business, which is co-owned by retail entrepreneur Kevin Stanford and investment fund Kcaj, made a loss of almost £2 million last year.