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Learn more refutes sale rumours

Luxury indie mini-chain has denied reports it has hired investment firm Morgan Stanley to explore a £200m sale.

An unnamed source cited by the Sunday Times say the business’s founders, husband and wife Tom and Ruth Chapman, have charged the investment bank to look at “strategic options”.

However, in a statement sent to Drapers, Tom Chapman said: “Naturally we are regularly assessing our strategic options for the business, but there is no ongoing process at present and this article is unfounded and purely speculative.

“We have obviously been observing the latest industry developments and will always evaluate the options and what’s best for the business long term, especially in the light of our continuing excellent performance and growth.”

The married pair own about three quarters of the company. The other investor is Scottish Equity Partners., which was founded in 1987, has four London stores – Marylebone, Notting Hill, Richmond and Wimbledon – and also sells online.

Morgan Stanley and Scottish Equity Partners both reportedly declined to comment.


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