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Jigsaw scrambles for investor deal

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Womenswear retailer Jigsaw has reportedly approached investors including The Foschini Group (TFG) to submit bids for the business.

Jigsaw has held talks with TFG, which earlier this month bought Hobbs, Phase Eight and Whistles, on tabling a takeover bid, according to Sky News.

It is also said to have invited a number of turnaround investors, including R Capital and Aurelius Advisers, to place bids ahead of a Friday deadline.

KPMG has been exploring options for the business on behalf of Jigsaw’s controlling shareholder John Robinson in recent weeks. This could involve a sale, or a minority stake acquisition.

A number of asset-based lenders have also reportedly been approached about a refinancing deal.

Readers' comments (1)

  • Not a particularly complementary headline for an un-leveraged business simply using professional advisors to secure funding to continue to build on a successful track record. £6m profit on £95m in 2016 was a decent result considering the awful environment. Come on Drapers...

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