Jigsaw has refuted media reports that it is actively exploring a sale of part or all of the business.
Sources told The Sunday Times that Jigsaw’s owners have commenced talks with financial advisers over the sale of a minority or majority stake, or a possible stock market flotation.
But the chain’s chief executive Peter Ruis insisted that Jigsaw has long been open to the idea of a sale in the future, but has not started any formal process. “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.”
John Robinson, who founded Jigsaw in 1971, ran the business with his ex-wife Belle until Ruis joined in 2013. Robinson remains the majority shareholder.
Last year, Jigsaw’s holding company Robinson Webster made underlying profits of £5.4m on revenues of £89m.