Private equity firm Silverfleet is expected to complete a deal to buy footwear chain Office by the end of today. The price paid is expected to be below the original £150m tag.
Retail entrepreneur Sir Tom Hunter bought Office for £16m via his Westcoast Capital investment firm in 2003. It has since tripled its number of stores.
The company enjoyed a strong performance in the year to January 31, when EBITDA rose to £18.5m, up from £10.5m the year before.