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For sale sign hoisted at Moda In Pelle chain

Stephen Buck, the owner of women’s fashion footwear retailer and brand Moda In Pelle, has put the business up for sale.

The company, which has an annual turnover of £15m, was bought out of administration by Buck for the second time in as many years last November.

Serial entrepreneur Buck has sent out a sales memorandum touting the business to potential buyers.

He is understood to have received a number of approaches from interested parties.

Former Moda In Pelle managing director Tom Clark, who left the business in July, previously stated that he had held ambitions to lead a buyout of the company after joining the retailer in 2007. He is understood to have secured financial backing to mount a bid for the business.

Buck said in a statement: “I’m considering expansion opportunities to facilitate the growth of the Moda In Pelle brand. I’m assessing the possibility of a company sale to a strategically aligned purchaser to fully exploit the brand’s potential.”

Buck added that current trading at the business was “buoyant”.

In the sales memorandum document the retailer is being touted to the market as a business with untapped international market potential as well as having a strong network of stores in the UK.

Leeds-based Moda In Pelle operates 30 stores in locations including South Molton Street in central London, Clarence Dock in Leeds and Capitol Shopping Centre in Cardiff.

The business also runs a wholesale business with about 200 stockists, the majority of which are independent retailers.

Moda In Pelle has a chequered history. The business went into administration in 2006, but Buck bought back a slimmed-down store portfolio before it collapsed into administration in November 2008, only to be bought back once again by Buck.

The business has been run by Buck and his wife Claire for the past 35 years.

Tom Clark was unavailable for comment.

Readers' comments (1)

  • What a shame!!! Employees are not daft or stupid, they know when crap is happenin. They always get the brunt! The only person who can develop this brand is Sharon Dray. She clearly is passionate and driven and if she had the money to do a buy out, i believe she is the one to succeed. Forget new company policies, what a load of bollocks! Focus on your customer, product, staff and location. I believe if this business was run by somebody with passion rather than £s it would make more money than ever anticipated. Commensense and a clear interest in fashion, this is 2009. You iether got it or you dont. Who is your customer???????

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